Brokerages expect that Portola Pharmaceuticals Inc (NASDAQ:PTLA) will post sales of $24.29 million for the current quarter, Zacks reports. Two analysts have provided estimates for Portola Pharmaceuticals’ earnings, with estimates ranging from $22.94 million to $25.63 million. Portola Pharmaceuticals posted sales of $4.01 million during the same quarter last year, which suggests a positive year over year growth rate of 505.7%. The firm is scheduled to announce its next quarterly earnings results on Thursday, August 8th.
According to Zacks, analysts expect that Portola Pharmaceuticals will report full year sales of $116.72 million for the current financial year, with estimates ranging from $103.45 million to $134.77 million. For the next fiscal year, analysts anticipate that the firm will report sales of $246.96 million, with estimates ranging from $181.11 million to $326.87 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Portola Pharmaceuticals.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.02) earnings per share for the quarter, meeting the consensus estimate of ($1.02). Portola Pharmaceuticals had a negative net margin of 618.46% and a negative return on equity of 238.48%. The business had revenue of $22.17 million during the quarter, compared to analysts’ expectations of $20.60 million. During the same quarter in the prior year, the company posted ($1.28) EPS. The business’s revenue for the quarter was up 233.9% on a year-over-year basis.
In other news, CFO Mardi Dier sold 40,486 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $37.39, for a total value of $1,513,771.54. Following the sale, the chief financial officer now directly owns 66,733 shares in the company, valued at approximately $2,495,146.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hollings Renton sold 5,000 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $34.45, for a total transaction of $172,250.00. Following the completion of the sale, the director now owns 14,000 shares in the company, valued at $482,300. The disclosure for this sale can be found here. 4.60% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Icon Wealth Partners LLC acquired a new stake in shares of Portola Pharmaceuticals in the 1st quarter valued at $26,000. FTB Advisors Inc. acquired a new stake in shares of Portola Pharmaceuticals in the 1st quarter valued at $33,000. Cornerstone Advisors Inc. acquired a new stake in shares of Portola Pharmaceuticals in the 1st quarter valued at $46,000. Bank of Montreal Can raised its holdings in shares of Portola Pharmaceuticals by 50.7% in the 1st quarter. Bank of Montreal Can now owns 3,323 shares of the biopharmaceutical company’s stock valued at $115,000 after purchasing an additional 1,118 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Portola Pharmaceuticals by 165.2% in the 4th quarter. Parallel Advisors LLC now owns 4,641 shares of the biopharmaceutical company’s stock valued at $90,000 after purchasing an additional 2,891 shares in the last quarter.
Shares of Portola Pharmaceuticals stock traded up $0.96 during mid-day trading on Friday, hitting $30.44. The stock had a trading volume of 1,079,104 shares, compared to its average volume of 1,333,531. The company has a debt-to-equity ratio of 5.15, a current ratio of 4.81 and a quick ratio of 4.77. Portola Pharmaceuticals has a 12-month low of $14.81 and a 12-month high of $45.60. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -6.08 and a beta of 2.35.
Portola Pharmaceuticals Company Profile
Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes novel therapeutics in the areas of thrombosis and other hematologic disorders and inflammation in the United States. The company offers Andexxa, 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 venous thromboembolism in adult patients hospitalized for an acute medical illness.
Featured Story: What is the market perform rating?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Portola Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Portola Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.