Portola Pharmaceuticals Inc (NASDAQ:PTLA) – Research analysts at Oppenheimer lifted their Q4 2018 earnings per share estimates for shares of Portola Pharmaceuticals in a note issued to investors on Monday, September 10th, according to Zacks Investment Research. Oppenheimer analyst J. Olson now forecasts that the biopharmaceutical company will post earnings per share of ($1.48) for the quarter, up from their prior estimate of ($1.49). Oppenheimer currently has a “Buy” rating and a $60.00 target price on the stock. Oppenheimer also issued estimates for Portola Pharmaceuticals’ FY2019 earnings at ($1.28) EPS and FY2020 earnings at $0.55 EPS.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported ($1.61) EPS for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.12). Portola Pharmaceuticals had a negative return on equity of 111.64% and a negative net margin of 1,503.29%. The firm had revenue of $4.01 million during the quarter, compared to analyst estimates of $6.35 million. During the same quarter in the prior year, the firm earned ($1.22) EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year.
A number of other brokerages have also commented on PTLA. ValuEngine lowered shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Zacks Investment Research lowered shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Credit Suisse Group reiterated an “underperform” rating and issued a $28.00 price objective (down previously from $49.00) on shares of Portola Pharmaceuticals in a report on Friday, August 10th. Cowen reiterated a “buy” rating on shares of Portola Pharmaceuticals in a report on Thursday, August 9th. Finally, William Blair reissued a “buy” rating on shares of Portola Pharmaceuticals in a research report on Wednesday, September 12th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Portola Pharmaceuticals currently has an average rating of “Hold” and an average target price of $52.17.
PTLA stock traded down $0.35 during trading on Thursday, reaching $24.20. The stock had a trading volume of 768,509 shares, compared to its average volume of 1,334,061. Portola Pharmaceuticals has a 1-year low of $23.75 and a 1-year high of $56.70. The company has a debt-to-equity ratio of 0.91, a current ratio of 6.69 and a quick ratio of 6.59. The firm has a market capitalization of $1.76 billion, a P/E ratio of -5.03 and a beta of 1.64.
In other Portola Pharmaceuticals news, Director Jeffrey W. Bird acquired 390,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was acquired at an average price of $25.84 per share, with a total value of $10,077,600.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey W. Bird acquired 137,563 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were acquired at an average cost of $25.17 per share, with a total value of $3,462,460.71. The disclosure for this purchase can be found here. 4.60% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in PTLA. Cadian Capital Management LP grew its position in shares of Portola Pharmaceuticals by 83.7% during the 2nd quarter. Cadian Capital Management LP now owns 2,280,201 shares of the biopharmaceutical company’s stock valued at $86,123,000 after buying an additional 1,039,257 shares during the last quarter. BlackRock Inc. grew its position in shares of Portola Pharmaceuticals by 12.5% during the 2nd quarter. BlackRock Inc. now owns 5,251,512 shares of the biopharmaceutical company’s stock valued at $198,351,000 after buying an additional 583,581 shares during the last quarter. Zevenbergen Capital Investments LLC grew its position in shares of Portola Pharmaceuticals by 51.1% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 1,253,625 shares of the biopharmaceutical company’s stock valued at $47,349,000 after buying an additional 424,100 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Portola Pharmaceuticals by 686.7% during the 2nd quarter. Wells Fargo & Company MN now owns 441,693 shares of the biopharmaceutical company’s stock valued at $16,683,000 after buying an additional 385,547 shares during the last quarter. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of Portola Pharmaceuticals during the 2nd quarter valued at about $12,543,000. 94.25% of the stock is owned by institutional investors and hedge funds.
Portola Pharmaceuticals Company Profile
Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics in the areas of thrombosis, other hematologic disorders, and inflammation. The company is developing Betrixaban, an oral once-daily Factor Xa inhibitor for hospital and extended duration prophylaxis of venous thromboembolism in adults hospitalized for an acute medical illness; Andexanet alfa, a recombinant protein that is in Phase III study for reverse anticoagulant activity in patients treated with fXa inhibitor; and Cerdulatinib, a spleen tyrosine kinase inhibitor, which is in Phase IIa clinical stage to treat hematologic cancers.
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