Portola Pharmaceuticals (NASDAQ:PTLA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Portola Pharmaceuticals, Inc. is a biopharmaceutical company .It focuses on the development and commercialization of therapeutics for thrombosis, other hematologic disorders and inflammation. Portola Pharmaceuticals, Inc. is headquartered in South San Francisco, California. “
Several other equities analysts also recently commented on the stock. BidaskClub raised shares of Portola Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Oppenheimer set a $30.00 price objective on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, December 31st. William Blair reaffirmed an “outperform” rating on shares of Portola Pharmaceuticals in a research note on Wednesday, December 12th. ValuEngine raised shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. Finally, Credit Suisse Group lowered their price objective on shares of Portola Pharmaceuticals from $34.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, November 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $37.50.
Portola Pharmaceuticals stock opened at $22.73 on Thursday. The company has a quick ratio of 6.51, a current ratio of 6.61 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -4.73 and a beta of 1.89. Portola Pharmaceuticals has a twelve month low of $14.81 and a twelve month high of $55.48.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($1.08) EPS for the quarter, beating the consensus estimate of ($1.54) by $0.46. The firm had revenue of $14.20 million during the quarter, compared to the consensus estimate of $7.10 million. Portola Pharmaceuticals had a negative net margin of 1,020.52% and a negative return on equity of 135.08%. The company’s quarterly revenue was up 270.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.41) earnings per share. On average, equities analysts anticipate that Portola Pharmaceuticals will post -5.03 EPS for the current fiscal year.
In related news, Director Charles J. Homcy sold 64,218 shares of the business’s stock in a transaction dated Monday, December 17th. The shares were sold at an average price of $18.61, for a total transaction of $1,195,096.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BB&T Securities LLC purchased a new stake in Portola Pharmaceuticals in the second quarter worth about $201,000. Smith Asset Management Group LP grew its holdings in Portola Pharmaceuticals by 51.1% in the third quarter. Smith Asset Management Group LP now owns 8,100 shares of the biopharmaceutical company’s stock worth $216,000 after purchasing an additional 2,740 shares during the period. Pacer Advisors Inc. purchased a new stake in Portola Pharmaceuticals in the third quarter worth about $221,000. Oppenheimer Asset Management Inc. grew its holdings in Portola Pharmaceuticals by 42.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 8,655 shares of the biopharmaceutical company’s stock worth $231,000 after purchasing an additional 2,576 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Portola Pharmaceuticals in the second quarter worth about $484,000.
About Portola Pharmaceuticals
Portola Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics that could advance the fields of thrombosis and other hematologic diseases. The company's two FDA-approved medicines are Andexxa (coagulation factor Xa (recombinant), inactivated-zhzo), an antidote for patients treated with rivaroxaban and apixaban when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding; and Bevyxxa (betrixaban), an oral, once-daily Factor Xa inhibitor for the prevention of VTE in adult patients hospitalized for an acute medical illness.
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