Shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) have been given an average recommendation of “Hold” by the ten brokerages that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $66.60.

PTLA has been the topic of several analyst reports. Credit Suisse Group restated an “outperform” rating and issued a $53.00 target price (down from $68.00) on shares of Portola Pharmaceuticals in a research report on Wednesday, February 21st. BidaskClub cut Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. Morgan Stanley cut Portola Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $65.00 target price on the stock. in a research report on Thursday, March 1st. Zacks Investment Research cut Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. Finally, William Blair restated a “buy” rating on shares of Portola Pharmaceuticals in a research report on Thursday, March 1st.

How to Become a New Pot Stock Millionaire

In related news, EVP Tao Fu sold 1,135 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $38.47, for a total value of $43,663.45. Following the sale, the executive vice president now directly owns 18,346 shares in the company, valued at approximately $705,770.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.50% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of PTLA. Oppenheimer Asset Management Inc. increased its position in shares of Portola Pharmaceuticals by 251.2% during the 3rd 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 increased its position in shares of Portola Pharmaceuticals by 54.9% during the 4th 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 acquired a new position in shares of Portola Pharmaceuticals during the 3rd quarter valued at $178,000. Penbrook Management LLC acquired a new position in shares of Portola Pharmaceuticals during the 4th quarter valued at $209,000. Finally, Sei Investments Co. acquired a new position in shares of Portola Pharmaceuticals during the 3rd quarter valued at $217,000. Institutional investors own 88.43% of the company’s stock.

Shares of PTLA stock traded down $0.08 during midday trading on Friday, hitting $31.62. The company had a trading volume of 453,267 shares, compared to its average volume of 1,287,666. The company has a market cap of $2,179.53, a P/E ratio of -6.61 and a beta of 1.34. Portola Pharmaceuticals has a 1-year low of $30.10 and a 1-year high of $67.10. The company has a current ratio of 5.94, a quick ratio of 5.92 and a debt-to-equity ratio of 0.30.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.46) by $0.05. Portola Pharmaceuticals had a negative return on equity of 108.43% and a negative net margin of 1,268.34%. The business had revenue of $9.80 million for the quarter, compared to the consensus estimate of $3.71 million. During the same quarter last year, the business posted ($0.95) EPS. The business’s revenue was down 28.4% on a year-over-year basis. equities research analysts forecast that Portola Pharmaceuticals will post -4.74 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This story was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another website, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this story can be viewed at https://www.watchlistnews.com/brokerages-set-portola-pharmaceuticals-inc-ptla-price-target-at-63-60/1960304.html.

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.

Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

Receive News & Ratings for Portola Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Portola Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.