Shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) dropped 7.2% during trading on Monday . The company traded as low as $46.18 and last traded at $46.29. Approximately 936,758 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 929,102 shares. The stock had previously closed at $49.88.
PTLA has been the subject of a number of research analyst reports. Oppenheimer set a $80.00 target price on Portola Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, January 15th. Goldman Sachs Group initiated coverage on Portola Pharmaceuticals in a report on Friday, December 1st. They issued a “buy” rating and a $75.00 target price for the company. BidaskClub lowered Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Thursday, December 7th. Citigroup reissued a “buy” rating and issued a $74.00 target price on shares of Portola Pharmaceuticals in a report on Thursday, December 28th. Finally, Zacks Investment Research raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Portola Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $70.65.
The company has a debt-to-equity ratio of 0.24, a current ratio of 8.31 and a quick ratio of 8.31. The firm has a market cap of $3,020.00, a price-to-earnings ratio of -10.72 and a beta of 1.18.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($1.41) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.49) by $0.08. Portola Pharmaceuticals had a negative return on equity of 110.46% and a negative net margin of 938.19%. The company had revenue of $3.83 million during the quarter, compared to analyst estimates of $4.71 million. During the same quarter in the previous year, the company posted ($1.64) earnings per share. Portola Pharmaceuticals’s revenue was down 58.9% compared to the same quarter last year. research analysts anticipate that Portola Pharmaceuticals Inc will post -4.94 EPS for the current year.
In related news, Director Henry Ward Wolff sold 12,000 shares of Portola Pharmaceuticals stock in a transaction on Friday, December 15th. The stock was sold at an average price of $47.00, for a total value of $564,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.50% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. QS Investors LLC bought a new stake in Portola Pharmaceuticals during the second quarter valued at about $147,000. Oppenheimer Asset Management Inc. grew its holdings in Portola Pharmaceuticals by 251.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 2,862 shares of the biopharmaceutical company’s stock valued at $155,000 after purchasing an additional 2,047 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Portola Pharmaceuticals by 54.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,219 shares of the biopharmaceutical company’s stock valued at $157,000 after purchasing an additional 1,141 shares during the period. Canada Pension Plan Investment Board bought a new stake in Portola Pharmaceuticals during the third quarter valued at about $178,000. Finally, Sei Investments Co. bought a new stake in Portola Pharmaceuticals during the third quarter valued at about $217,000. 87.29% of the stock is owned by institutional investors.
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About Portola Pharmaceuticals
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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