Portola Pharmaceuticals (PTLA) Trading Down 5.7%

Portola Pharmaceuticals Inc (NASDAQ:PTLA) shares dropped 5.7% during mid-day trading on Tuesday . The company traded as low as $20.72 and last traded at $20.80. Approximately 1,349,795 shares were traded during trading, a decline of 1% from the average daily volume of 1,365,270 shares. The stock had previously closed at $22.06.

PTLA has been the topic of a number of research analyst reports. Cowen reaffirmed a “buy” rating on shares of Portola Pharmaceuticals in a report on Thursday, August 9th. Oppenheimer set a $70.00 price target on Portola Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 9th. Credit Suisse Group reaffirmed an “underperform” rating and set a $28.00 price target (down from $49.00) on shares of Portola Pharmaceuticals in a report on Friday, August 10th. Citigroup lowered their price target on Portola Pharmaceuticals from $64.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, August 10th. Finally, Zacks Investment Research downgraded Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $37.50.

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 cap of $1.45 billion, a PE ratio of -4.32 and a beta of 2.02.



Portola Pharmaceuticals (NASDAQ:PTLA) last posted its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($1.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.46. Portola Pharmaceuticals had a negative return on equity of 135.08% and a negative net margin of 1,020.52%. The company had revenue of $14.20 million for the quarter, compared to the consensus estimate of $7.10 million. During the same quarter in the prior year, the company earned ($1.41) earnings per share. Portola Pharmaceuticals’s revenue was up 270.8% on a year-over-year basis. As a group, equities analysts predict that Portola Pharmaceuticals Inc will post -5.03 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. WealthPLAN Partners LLC lifted its holdings in Portola Pharmaceuticals by 20.5% in the third quarter. WealthPLAN Partners LLC now owns 45,847 shares of the biopharmaceutical company’s stock valued at $884,000 after acquiring an additional 7,814 shares during the period. Legal & General Group Plc lifted its holdings in Portola Pharmaceuticals by 15.7% in the third quarter. Legal & General Group Plc now owns 24,157 shares of the biopharmaceutical company’s stock valued at $644,000 after acquiring an additional 3,284 shares during the period. Macquarie Group Ltd. lifted its holdings in Portola Pharmaceuticals by 119.9% in the third quarter. Macquarie Group Ltd. now owns 380,358 shares of the biopharmaceutical company’s stock valued at $10,129,000 after acquiring an additional 207,358 shares during the period. Sector Gamma AS lifted its holdings in Portola Pharmaceuticals by 34.3% in the third quarter. Sector Gamma AS now owns 269,701 shares of the biopharmaceutical company’s stock valued at $7,182,000 after acquiring an additional 68,901 shares during the period. Finally, MetLife Investment Advisors LLC lifted its holdings in Portola Pharmaceuticals by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 46,441 shares of the biopharmaceutical company’s stock valued at $1,237,000 after acquiring an additional 16,509 shares during the period.

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About Portola Pharmaceuticals (NASDAQ:PTLA)

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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