Portola Pharmaceuticals Inc to Post FY2018 Earnings of ($5.06) Per Share, Oppenheimer Forecasts (NASDAQ:PTLA)

Portola Pharmaceuticals Inc (NASDAQ:PTLA) – Stock analysts at Oppenheimer boosted their FY2018 earnings per share (EPS) estimates for Portola Pharmaceuticals in a research note issued to investors on Thursday, November 8th, Zacks Investment Research reports. Oppenheimer analyst J. Olson now anticipates that the biopharmaceutical company will post earnings per share of ($5.06) for the year, up from their prior estimate of ($5.82). Oppenheimer has a “Buy” rating and a $30.00 price target on the stock. Oppenheimer also issued estimates for Portola Pharmaceuticals’ Q4 2018 earnings at ($1.16) EPS, Q1 2019 earnings at ($1.05) EPS, Q2 2019 earnings at ($1.13) EPS, Q3 2019 earnings at ($0.91) EPS, Q4 2019 earnings at ($0.93) EPS, FY2019 earnings at ($4.05) EPS, FY2020 earnings at ($2.97) EPS, FY2021 earnings at ($1.78) EPS and FY2022 earnings at ($0.07) EPS.

A number of other brokerages have also issued reports on PTLA. Credit Suisse Group reiterated an “underperform” rating and issued a $28.00 target price (down previously from $49.00) on shares of Portola Pharmaceuticals in a research report on Friday, August 10th. Cowen restated a “buy” rating on shares of Portola Pharmaceuticals in a research report on Thursday, August 9th. William Blair restated a “buy” rating on shares of Portola Pharmaceuticals in a research report on Wednesday, September 12th. ValuEngine upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, September 1st. Finally, Citigroup reduced their price objective on shares of Portola Pharmaceuticals from $64.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Portola Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $37.50.



PTLA traded down $1.26 on Monday, reaching $20.80. The company had a trading volume of 1,349,067 shares, compared to its average volume of 1,552,701. The firm has a market capitalization of $1.45 billion, a PE ratio of -4.32 and a beta of 2.02. The company has a quick ratio of 6.51, a current ratio of 6.61 and a debt-to-equity ratio of 1.21. Portola Pharmaceuticals has a one year low of $18.18 and a one year high of $56.70.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($1.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.54) by $0.46. The firm had revenue of $14.20 million during the quarter, compared to analyst estimates of $7.10 million. Portola Pharmaceuticals had a negative net margin of 1,020.52% and a negative return on equity of 135.08%. Portola Pharmaceuticals’s revenue was up 270.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.41) EPS.

Hedge funds have recently bought and sold shares of the business. SeaCrest Wealth Management LLC purchased a new stake in Portola Pharmaceuticals during the second quarter valued at about $191,000. BB&T Securities LLC purchased a new stake in Portola Pharmaceuticals during the second quarter valued at about $201,000. Smith Asset Management Group LP lifted its position in shares of 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 in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Portola Pharmaceuticals in the third quarter worth approximately $221,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Portola Pharmaceuticals in the second quarter worth approximately $230,000.

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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