Vetr downgraded shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) from a strong-buy rating to a buy rating in a research report released on Monday morning. Vetr currently has $45.18 target price on the biopharmaceutical company’s stock.
A number of other equities analysts also recently weighed in on PTLA. Credit Suisse Group AG boosted their target price on Portola Pharmaceuticals from $20.00 to $29.00 and gave the stock an outperform rating in a research note on Tuesday, December 27th. Citigroup Inc upgraded Portola Pharmaceuticals from a neutral rating to a buy rating in a research note on Tuesday, December 27th. Morgan Stanley restated an overweight rating and issued a $29.00 target price on shares of Portola Pharmaceuticals in a research note on Wednesday, December 28th. Zacks Investment Research upgraded Portola Pharmaceuticals from a hold rating to a buy rating and set a $29.00 target price on the stock in a research note on Wednesday, January 11th. Finally, Goldman Sachs Group Inc restated a neutral rating and issued a $27.00 target price (up previously from $22.00) on shares of Portola Pharmaceuticals in a research note on Wednesday, January 11th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Portola Pharmaceuticals presently has a consensus rating of Buy and a consensus price target of $37.65.
Portola Pharmaceuticals (NASDAQ:PTLA) opened at 38.02 on Monday. The company’s market cap is $2.15 billion. Portola Pharmaceuticals has a 1-year low of $15.68 and a 1-year high of $41.27. The firm’s 50-day moving average price is $34.26 and its 200-day moving average price is $24.57.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($0.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.17. Portola Pharmaceuticals had a negative return on equity of 82.19% and a negative net margin of 1,072.67%. The firm had revenue of $13.70 million for the quarter, compared to the consensus estimate of $3.98 million. During the same quarter in the previous year, the business earned ($1.23) EPS. The company’s revenue was up 211.4% compared to the same quarter last year. Equities research analysts forecast that Portola Pharmaceuticals will post ($3.56) EPS for the current fiscal year.
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In related news, VP Mardi Dier sold 10,235 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $40.02, for a total value of $409,604.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles J. Homcy sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $40.06, for a total value of $2,003,000.00. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of PTLA. Peregrine Capital Management LLC acquired a new stake in shares of Portola Pharmaceuticals during the third quarter worth about $10,255,000. Norges Bank acquired a new stake in shares of Portola Pharmaceuticals during the fourth quarter worth about $10,046,000. Strs Ohio acquired a new stake in shares of Portola Pharmaceuticals during the third quarter worth about $4,428,000. Sectoral Asset Management Inc boosted its stake in shares of Portola Pharmaceuticals by 15.4% in the third quarter. Sectoral Asset Management Inc now owns 1,419,208 shares of the biopharmaceutical company’s stock worth $32,230,000 after buying an additional 189,826 shares during the last quarter. Finally, Orbimed Advisors LLC boosted its stake in shares of Portola Pharmaceuticals by 48.7% in the fourth quarter. Orbimed Advisors LLC now owns 551,500 shares of the biopharmaceutical company’s stock worth $12,376,000 after buying an additional 180,600 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.
About Portola Pharmaceuticals
Portola Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics in the areas of thrombosis, other hematologic disorders and inflammation for patients who have limited or no approved treatment options. The Company’s two lead programs, Betrixaban and Andexanet alfa, address unmet medical needs in the area of thrombosis, or blood clots.
To view Vetr’s full report, visit Vetr’s official website.