Portola Pharmaceuticals (PTLA) Lifted to Buy at Zacks Investment Research

Portola Pharmaceuticals (NASDAQ:PTLA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $27.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.27% from the company’s current price.

According to Zacks, “Portola Pharmaceuticals, Inc. is a biopharmaceutical company .It focuses on the development and commercialization of therapeutics for thrombosis, other hematologic disorders and inflammation. Portola Pharmaceuticals, Inc. is headquartered in South San Francisco, California. “

PTLA has been the topic of a number of other reports. Oppenheimer set a $60.00 price target on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a research note on Sunday, August 26th. MED cut their price target on shares of Portola Pharmaceuticals from $70.00 to $60.00 and set a “positive” rating on the stock in a research note on Monday, August 27th. ValuEngine lowered shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. BidaskClub lowered shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Finally, William Blair reiterated a “buy” rating on shares of Portola Pharmaceuticals in a research note on Wednesday, September 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $48.29.

Shares of NASDAQ:PTLA opened at $24.05 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 6.59 and a current ratio of 6.69. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -5.00 and a beta of 1.64. Portola Pharmaceuticals has a 1 year low of $22.94 and a 1 year high of $56.70.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported ($1.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.49) by ($0.12). The business had revenue of $4.01 million for the quarter, compared to analysts’ expectations of $6.35 million. Portola Pharmaceuticals had a negative return on equity of 111.64% and a negative net margin of 1,503.29%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned ($1.22) earnings per share. Analysts anticipate that Portola Pharmaceuticals will post -5.77 EPS for the current fiscal year.

In other news, Director Jeffrey W. Bird bought 390,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were purchased at an average cost of $25.84 per share, for a total transaction of $10,077,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey W. Bird bought 137,563 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were purchased at an average price of $25.17 per share, for a total transaction of $3,462,460.71. The disclosure for this purchase can be found here. 4.60% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank increased its stake in shares of Portola Pharmaceuticals by 30.1% during the second quarter. Amalgamated Bank now owns 9,890 shares of the biopharmaceutical company’s stock worth $374,000 after buying an additional 2,286 shares during the period. Putnam Investments LLC increased its stake in shares of Portola Pharmaceuticals by 8.8% during the second quarter. Putnam Investments LLC now owns 28,456 shares of the biopharmaceutical company’s stock worth $1,074,000 after buying an additional 2,309 shares during the period. Xact Kapitalforvaltning AB increased its stake in shares of Portola Pharmaceuticals by 34.3% during the first quarter. Xact Kapitalforvaltning AB now owns 9,788 shares of the biopharmaceutical company’s stock worth $320,000 after buying an additional 2,500 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Portola Pharmaceuticals by 15.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 21,138 shares of the biopharmaceutical company’s stock worth $798,000 after buying an additional 2,823 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Portola Pharmaceuticals by 12.9% during the second quarter. State Board of Administration of Florida Retirement System now owns 32,408 shares of the biopharmaceutical company’s stock worth $1,224,000 after buying an additional 3,700 shares during the period. Hedge funds and other institutional investors own 94.25% of the company’s stock.

Portola Pharmaceuticals Company Profile

Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics in the areas of thrombosis, other hematologic disorders, and inflammation. The company is developing Betrixaban, an oral once-daily Factor Xa inhibitor for hospital and extended duration prophylaxis of venous thromboembolism in adults hospitalized for an acute medical illness; Andexanet alfa, a recombinant protein that is in Phase III study for reverse anticoagulant activity in patients treated with fXa inhibitor; and Cerdulatinib, a spleen tyrosine kinase inhibitor, which is in Phase IIa clinical stage to treat hematologic cancers.

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