Prudential Financial Inc. increased its holdings in Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 1,632.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,152 shares of the biopharmaceutical company’s stock after buying an additional 115,100 shares during the period. Prudential Financial Inc.’s holdings in Portola Pharmaceuticals were worth $3,314,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fiera Capital Corp acquired a new position in Portola Pharmaceuticals during the first quarter valued at approximately $53,590,000. William Blair Investment Management LLC raised its position in Portola Pharmaceuticals by 41.7% during the first quarter. William Blair Investment Management LLC now owns 4,154,870 shares of the biopharmaceutical company’s stock valued at $144,174,000 after purchasing an additional 1,222,057 shares in the last quarter. Asymmetry Capital Management L.P. raised its position in Portola Pharmaceuticals by 185.9% during the second quarter. Asymmetry Capital Management L.P. now owns 525,730 shares of the biopharmaceutical company’s stock valued at $14,263,000 after purchasing an additional 341,828 shares in the last quarter. New York State Common Retirement Fund raised its position in Portola Pharmaceuticals by 400.9% during the first quarter. New York State Common Retirement Fund now owns 329,615 shares of the biopharmaceutical company’s stock valued at $11,438,000 after purchasing an additional 263,815 shares in the last quarter. Finally, C WorldWide Group Holding A S raised its position in Portola Pharmaceuticals by 109.8% during the second quarter. C WorldWide Group Holding A S now owns 334,366 shares of the biopharmaceutical company’s stock valued at $9,071,000 after purchasing an additional 175,000 shares in the last quarter.
Several brokerages have commented on PTLA. Morgan Stanley began coverage on shares of Portola Pharmaceuticals in a research report on Thursday, September 5th. They set a “hold” rating and a $37.00 price objective for the company. Credit Suisse Group restated a “neutral” rating and set a $35.00 price objective on shares of Portola Pharmaceuticals in a research report on Monday, August 5th. BidaskClub upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Cowen restated a “buy” rating and set a $45.00 price objective on shares of Portola Pharmaceuticals in a research report on Thursday, August 8th. Finally, William Blair restated a “buy” rating on shares of Portola Pharmaceuticals in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $38.33.
Shares of NASDAQ PTLA traded up $0.22 during midday trading on Friday, reaching $30.68. 1,144,660 shares of the company were exchanged, compared to its average volume of 962,989. The stock’s 50-day moving average price is $28.39 and its 200-day moving average price is $30.25. The stock has a market cap of $2.08 billion, a P/E ratio of -6.12 and a beta of 2.13. Portola Pharmaceuticals Inc has a one year low of $14.81 and a one year high of $37.95. 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 (NASDAQ:PTLA) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.13. The firm had revenue of $28.42 million for the quarter, compared to analysts’ expectations of $25.42 million. Portola Pharmaceuticals had a negative net margin of 379.94% and a negative return on equity of 352.12%. The company’s revenue was up 608.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.61) earnings per share. On average, equities research analysts anticipate that Portola Pharmaceuticals Inc will post -3.83 EPS for the current year.
Portola Pharmaceuticals 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.
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