Crawford Lake Capital Management LLC Invests $2.66 Million in Portola Pharmaceuticals, Inc. (PTLA) Stock

Crawford Lake Capital Management LLC bought a new stake in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 47,400 shares of the biopharmaceutical company’s stock, valued at approximately $2,662,000. Crawford Lake Capital Management LLC owned approximately 0.08% of Portola Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. purchased a new stake in Portola Pharmaceuticals in the 1st quarter valued at approximately $968,000. UBS Asset Management Americas Inc. raised its holdings in Portola Pharmaceuticals by 32.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 399,684 shares of the biopharmaceutical company’s stock valued at $15,664,000 after acquiring an additional 96,962 shares during the last quarter. Marcus Capital LLC raised its holdings in Portola Pharmaceuticals by 5.4% in the 1st quarter. Marcus Capital LLC now owns 97,675 shares of the biopharmaceutical company’s stock valued at $3,828,000 after acquiring an additional 4,975 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in Portola Pharmaceuticals by 4.0% in the 1st quarter. TIAA CREF Investment Management LLC now owns 223,924 shares of the biopharmaceutical company’s stock valued at $8,776,000 after acquiring an additional 8,673 shares during the last quarter. Finally, Nicholas Investment Partners LP raised its holdings in Portola Pharmaceuticals by 281.3% in the 1st quarter. Nicholas Investment Partners LP now owns 91,550 shares of the biopharmaceutical company’s stock valued at $3,588,000 after acquiring an additional 67,537 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) traded up 0.761% during mid-day trading on Tuesday, hitting $56.134. The stock had a trading volume of 547,974 shares. The firm’s 50-day moving average is $59.49 and its 200 day moving average is $46.75. Portola Pharmaceuticals, Inc. has a one year low of $15.68 and a one year high of $67.10. The stock’s market cap is $3.24 billion.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.12). Portola Pharmaceuticals had a negative return on equity of 145.12% and a negative net margin of 807.93%. The firm had revenue of $3.79 million during the quarter, compared to analyst estimates of $4.28 million. During the same period in the prior year, the business posted ($1.02) EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. Equities research analysts expect that Portola Pharmaceuticals, Inc. will post ($4.83) EPS for the current year.

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Several brokerages have weighed in on PTLA. Credit Suisse Group reiterated a “neutral” rating and issued a $58.00 price target (up from $39.00) on shares of Portola Pharmaceuticals in a report on Monday, June 26th. ValuEngine upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Morgan Stanley boosted their price target on Portola Pharmaceuticals from $50.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 26th. Cowen and Company boosted their price target on Portola Pharmaceuticals from $45.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, June 26th. Finally, William Blair reiterated an “outperform” rating on shares of Portola Pharmaceuticals in a report on Monday, June 26th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $63.77.

In other Portola Pharmaceuticals news, VP Mardi Dier sold 93,392 shares of Portola Pharmaceuticals stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $55.46, for a total transaction of $5,179,520.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John T. Curnutte sold 10,000 shares of Portola Pharmaceuticals stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total transaction of $650,000.00. The disclosure for this sale can be found here. Insiders sold a total of 589,656 shares of company stock valued at $32,818,131 in the last ninety days. Company insiders own 4.90% of the company’s stock.

Portola Pharmaceuticals Company Profile

Portola Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics in the areas of thrombosis, other hematologic disorders and inflammation for patients having limited or no approved treatment options. The Company’s two lead programs, Betrixaban and Andexanet alfa, address unmet medical needs in the area of thrombosis, or blood clots.

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Institutional Ownership by Quarter for Portola Pharmaceuticals (NASDAQ:PTLA)

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