Swiss National Bank Continues to Hold Stake in Portola Pharmaceuticals Inc. (PTLA)
Swiss National Bank maintained its position in Portola Pharmaceuticals Inc. (NASDAQ:PTLA) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 92,057 shares of the biopharmaceutical company’s stock at the end of the second quarter. Swiss National Bank owned approximately 0.16% of Portola Pharmaceuticals worth $2,173,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Fund Advisors increased its stake in shares of Portola Pharmaceuticals by 4.3% in the first quarter. BlackRock Fund Advisors now owns 1,985,120 shares of the biopharmaceutical company’s stock valued at $40,496,000 after buying an additional 82,609 shares during the last quarter. Wellington Management Group LLP increased its stake in Portola Pharmaceuticals by 25.9% in the first quarter. Wellington Management Group LLP now owns 6,615,240 shares of the biopharmaceutical company’s stock worth $134,951,000 after buying an additional 1,359,683 shares in the last quarter. Deerfield Management Co. increased its stake in Portola Pharmaceuticals by 351.9% in the first quarter. Deerfield Management Co. now owns 3,089,785 shares of the biopharmaceutical company’s stock worth $63,032,000 after buying an additional 2,406,036 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Portola Pharmaceuticals by 13.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,487,058 shares of the biopharmaceutical company’s stock worth $30,336,000 after buying an additional 175,109 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Portola Pharmaceuticals during the first quarter worth $2,503,000. 92.04% of the stock is currently owned by institutional investors.
Shares of Portola Pharmaceuticals Inc. (NASDAQ:PTLA) traded down 2.20% during midday trading on Monday, hitting $23.08. 1,085,760 shares of the stock traded hands. Portola Pharmaceuticals Inc. has a 1-year low of $18.20 and a 1-year high of $57.96. The company’s market capitalization is $1.30 billion. The stock has a 50 day moving average of $23.55 and a 200 day moving average of $24.68.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($1.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.18. Portola Pharmaceuticals had a negative return on equity of 67.16% and a negative net margin of 1,229.26%. The company had revenue of $4.23 million for the quarter, compared to analysts’ expectations of $4.38 million. During the same quarter in the prior year, the business posted ($1.12) EPS. The business’s revenue was up 75.0% compared to the same quarter last year. Equities research analysts predict that Portola Pharmaceuticals Inc. will post ($4.38) earnings per share for the current fiscal year.
PTLA has been the topic of a number of recent research reports. Citigroup Inc. lifted their price target on shares of Portola Pharmaceuticals from $29.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, May 27th. Cowen and Company reiterated a “buy” rating on shares of Portola Pharmaceuticals in a research note on Thursday, August 18th. Zacks Investment Research upgraded shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, July 7th. Credit Suisse Group AG reiterated a “hold” rating and set a $30.00 price target on shares of Portola Pharmaceuticals in a research note on Thursday, August 18th. Finally, Morgan Stanley decreased their price target on shares of Portola Pharmaceuticals from $61.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, August 19th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $32.64.
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 who have 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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