Portola Pharmaceuticals (NASDAQ:PTLA) Upgraded at BidaskClub

BidaskClub upgraded shares of Portola Pharmaceuticals (NASDAQ:PTLA) from a sell rating to a hold rating in a report issued on Saturday, BidAskClub reports.

PTLA has been the subject of several other reports. Credit Suisse Group reissued a neutral rating and set a $35.00 price objective on shares of Portola Pharmaceuticals in a report on Monday, August 5th. William Blair reissued a buy rating on shares of Portola Pharmaceuticals in a report on Friday, August 9th. ValuEngine cut Portola Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, May 1st. Morgan Stanley set a $37.00 price objective on Portola Pharmaceuticals and gave the stock a hold rating in a report on Friday, August 9th. Finally, Zacks Investment Research cut Portola Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $41.43.

Portola Pharmaceuticals stock opened at $29.95 on Friday. The stock has a 50-day simple moving average of $27.25 and a 200 day simple moving average of $30.29. The company has a quick ratio of 3.61, a current ratio of 3.63 and a debt-to-equity ratio of 453.47. Portola Pharmaceuticals has a 12-month low of $14.81 and a 12-month high of $37.95. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -5.98 and a beta of 2.18.



Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.92) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.05) by $0.13. Portola Pharmaceuticals had a negative return on equity of 352.12% and a negative net margin of 379.94%. The business had revenue of $28.42 million during the quarter, compared to analysts’ expectations of $25.42 million. During the same period in the previous year, the business posted ($1.61) earnings per share. The firm’s revenue for the quarter was up 608.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Portola Pharmaceuticals will post -3.83 EPS for the current year.

In other Portola Pharmaceuticals news, Director Hollings Renton sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now directly owns 18,194 shares of the company’s stock, valued at approximately $545,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of PTLA. Icon Wealth Partners LLC acquired a new position in shares of Portola Pharmaceuticals during the 1st quarter worth about $26,000. Next Capital Management LLC acquired a new position in shares of Portola Pharmaceuticals during the 2nd quarter worth about $27,000. Point72 Hong Kong Ltd acquired a new position in shares of Portola Pharmaceuticals during the 2nd quarter worth about $31,000. FTB Advisors Inc. acquired a new position in shares of Portola Pharmaceuticals during the 1st quarter worth about $33,000. Finally, Cornerstone Advisors Inc. acquired a new position in shares of Portola Pharmaceuticals during the 1st quarter worth about $46,000.

About Portola Pharmaceuticals

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.

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Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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