BB&T Securities LLC bought a new position in shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) during the second quarter, HoldingsChannel reports. The fund bought 5,328 shares of the biopharmaceutical company’s stock, valued at approximately $201,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Portola Pharmaceuticals in the first quarter valued at approximately $128,000. SeaCrest Wealth Management LLC acquired a new position in Portola Pharmaceuticals in the second quarter valued at approximately $191,000. Oppenheimer Asset Management Inc. acquired a new position in Portola Pharmaceuticals in the second quarter valued at approximately $230,000. Quantitative Systematic Strategies LLC acquired a new position in Portola Pharmaceuticals in the second quarter valued at approximately $234,000. Finally, Xact Kapitalforvaltning AB boosted its holdings in Portola Pharmaceuticals by 34.3% in the first quarter. Xact Kapitalforvaltning AB now owns 9,788 shares of the biopharmaceutical company’s stock valued at $320,000 after purchasing an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 94.25% of the company’s stock.

A number of equities analysts recently issued reports on the company. BidaskClub downgraded Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday. Oppenheimer set a $60.00 price target on Portola Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, September 20th. William Blair reaffirmed a “buy” rating on shares of Portola Pharmaceuticals in a report on Wednesday, September 12th. ValuEngine raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, September 1st. Finally, Credit Suisse Group raised Portola Pharmaceuticals from an “underperform” rating to a “neutral” rating and upped their price target for the company from $28.00 to $34.00 in a report on Monday, August 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $52.17.

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

Shares of PTLA opened at $27.14 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 6.69 and a quick ratio of 6.59. The company has a market capitalization of $1.79 billion, a P/E ratio of -5.88 and a beta of 1.68. Portola Pharmaceuticals Inc has a 52-week low of $24.63 and a 52-week high of $56.70.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported ($1.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.49) by ($0.12). The firm had revenue of $4.01 million during the quarter, compared to analyst estimates of $6.35 million. Portola Pharmaceuticals had a negative net margin of 1,503.29% and a negative return on equity of 111.64%. Portola Pharmaceuticals’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.22) earnings per share. sell-side analysts predict that Portola Pharmaceuticals Inc will post -5.77 EPS for the current fiscal year.

About Portola Pharmaceuticals

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

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