Analysts expect that Portola Pharmaceuticals Inc (NASDAQ:PTLA) will post $8.78 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Portola Pharmaceuticals’ earnings. Portola Pharmaceuticals reported sales of $3.83 million during the same quarter last year, which suggests a positive year-over-year growth rate of 129.2%. The company is scheduled to report its next quarterly earnings results on Monday, November 5th.
According to Zacks, analysts expect that Portola Pharmaceuticals will report full-year sales of $30.61 million for the current year, with estimates ranging from $23.96 million to $35.59 million. For the next year, analysts expect that the company will report sales of $142.32 million per share, with estimates ranging from $91.45 million to $171.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Portola Pharmaceuticals.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($1.61) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.49) by ($0.12). The firm had revenue of $4.01 million during the quarter, compared to the consensus estimate of $6.35 million. Portola Pharmaceuticals had a negative return on equity of 111.64% and a negative net margin of 1,503.29%. Portola Pharmaceuticals’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted ($1.22) EPS.
PTLA has been the subject of several analyst reports. ValuEngine upgraded shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, May 29th. Oppenheimer set a $80.00 target price on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, June 5th. Zacks Investment Research lowered shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, July 19th. Cowen reiterated a “buy” rating on shares of Portola Pharmaceuticals in a report on Thursday, August 9th. Finally, Credit Suisse Group reiterated an “underperform” rating and set a $28.00 price objective (down previously from $49.00) on shares of Portola Pharmaceuticals in a report on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $52.17.
Shares of Portola Pharmaceuticals stock traded down $0.51 during trading on Tuesday, hitting $27.66. The stock had a trading volume of 32,196 shares, compared to its average volume of 1,332,152. The firm has a market capitalization of $1.89 billion, a PE ratio of -5.81 and a beta of 1.68. The company has a current ratio of 6.69, a quick ratio of 6.59 and a debt-to-equity ratio of 0.91. Portola Pharmaceuticals has a 12 month low of $24.63 and a 12 month high of $56.70.
In related news, Director Jeffrey W. Bird acquired 137,563 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was bought at an average price of $25.17 per share, for a total transaction of $3,462,460.71. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey W. Bird acquired 390,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were bought at an average price of $25.84 per share, with a total value of $10,077,600.00. The disclosure for this purchase can be found here. Company insiders own 4.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in 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 purchasing an additional 583,581 shares during the period. Temasek Holdings Private Ltd increased its position in Portola Pharmaceuticals by 6.0% during the 2nd quarter. Temasek Holdings Private Ltd now owns 5,174,168 shares of the biopharmaceutical company’s stock valued at $195,428,000 after purchasing an additional 290,600 shares during the period. Cadian Capital Management LP increased its position in 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 purchasing an additional 1,039,257 shares during the period. Zevenbergen Capital Investments LLC increased its position in 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 purchasing an additional 424,100 shares during the period. Finally, Kornitzer Capital Management Inc. KS increased its position in Portola Pharmaceuticals by 9.0% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 1,166,721 shares of the biopharmaceutical company’s stock valued at $44,067,000 after purchasing an additional 96,777 shares during the period. Institutional investors own 94.26% of the company’s stock.
About Portola Pharmaceuticals
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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