Portola Pharmaceuticals (NASDAQ:PTLA) Lowered to “Strong Sell” at ValuEngine

ValuEngine cut shares of Portola Pharmaceuticals (NASDAQ:PTLA) from a sell rating to a strong sell rating in a report issued on Monday morning, ValuEngine reports.

Several other brokerages have also recently commented on PTLA. Zacks Investment Research upgraded Portola Pharmaceuticals from a hold rating to a buy rating and set a $30.00 target price on the stock in a report on Wednesday, October 9th. Citigroup cut their price target on Portola Pharmaceuticals from $51.00 to $44.00 and set a buy rating on the stock in a report on Wednesday, October 9th. Cowen restated a buy rating and set a $45.00 price target on shares of Portola Pharmaceuticals in a report on Thursday, August 8th. William Blair restated a buy rating on shares of Portola Pharmaceuticals in a report on Friday, August 9th. Finally, BidaskClub cut Portola Pharmaceuticals from a sell rating to a strong sell rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Portola Pharmaceuticals has a consensus rating of Hold and an average price target of $39.29.

PTLA stock traded up $0.04 during trading on Monday, hitting $28.40. The company had a trading volume of 6,875 shares, compared to its average volume of 683,726. The business has a 50-day moving average of $28.23 and a 200-day moving average of $29.30. Portola Pharmaceuticals has a one year low of $14.81 and a one year high of $37.95. The stock has a market cap of $1.87 billion, a PE ratio of -5.68 and a beta of 2.09. The company has a current ratio of 3.63, a quick ratio of 3.61 and a debt-to-equity ratio of 453.47.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.92) EPS for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $25.42 million. During the same period in the prior year, the business posted ($1.61) earnings per share. The firm’s revenue was up 608.7% on a year-over-year basis. Research analysts forecast that Portola Pharmaceuticals will post -3.77 EPS for the current year.

In related news, Director Hollings Renton sold 5,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $30.00, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Portola Pharmaceuticals by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,985,834 shares of the biopharmaceutical company’s stock valued at $162,396,000 after purchasing an additional 151,150 shares during the period. BlackRock Inc. grew its stake in Portola Pharmaceuticals by 3.6% in the 2nd quarter. BlackRock Inc. now owns 5,324,948 shares of the biopharmaceutical company’s stock valued at $144,466,000 after purchasing an additional 186,304 shares during the period. William Blair Investment Management LLC grew its stake in shares of Portola Pharmaceuticals by 20.3% during the 2nd quarter. William Blair Investment Management LLC now owns 4,997,224 shares of the biopharmaceutical company’s stock worth $135,575,000 after acquiring an additional 842,354 shares during the period. Cadian Capital Management LP grew its stake in shares of Portola Pharmaceuticals by 2.9% during the 2nd quarter. Cadian Capital Management LP now owns 4,091,687 shares of the biopharmaceutical company’s stock worth $111,007,000 after acquiring an additional 116,789 shares during the period. Finally, Rock Springs Capital Management LP grew its stake in shares of Portola Pharmaceuticals by 15.2% during the 2nd quarter. Rock Springs Capital Management LP now owns 1,008,000 shares of the biopharmaceutical company’s stock worth $27,347,000 after acquiring an additional 133,000 shares during the period.

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.

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Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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