Oppenheimer Reiterates $80.00 Price Target for Portola Pharmaceuticals (PTLA)
Portola Pharmaceuticals (NASDAQ:PTLA) received a $80.00 price target from analysts at Oppenheimer in a research report issued to clients and investors on Tuesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Oppenheimer’s price objective indicates a potential upside of 56.89% from the stock’s previous close. Oppenheimer also issued estimates for Portola Pharmaceuticals’ FY2017 earnings at ($5.04) EPS, Q1 2018 earnings at $0.07 EPS, Q2 2018 earnings at ($1.20) EPS, Q3 2018 earnings at ($1.01) EPS, Q4 2018 earnings at ($0.94) EPS, FY2018 earnings at ($2.98) EPS and FY2019 earnings at ($0.27) EPS.
Several other research firms also recently weighed in on PTLA. BidaskClub downgraded Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. Credit Suisse Group upgraded Portola Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $70.00 target price on the stock in a research report on Wednesday, August 23rd. Morgan Stanley reissued an “overweight” rating and set a $81.00 price target (up from $75.00) on shares of Portola Pharmaceuticals in a report on Friday, October 6th. Finally, Goldman Sachs Group began coverage on Portola Pharmaceuticals in a report on Friday, December 1st. They set a “buy” rating and a $75.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $71.15.
Portola Pharmaceuticals (NASDAQ:PTLA) opened at $50.99 on Tuesday. The company has a quick ratio of 8.31, a current ratio of 8.31 and a debt-to-equity ratio of 0.24. Portola Pharmaceuticals has a 52-week low of $18.63 and a 52-week high of $67.10.
In other Portola Pharmaceuticals news, Director Henry Ward Wolff sold 12,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $47.00, for a total transaction of $564,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.50% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Kornitzer Capital Management Inc. KS increased its holdings in shares of Portola Pharmaceuticals by 38.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 727,812 shares of the biopharmaceutical company’s stock worth $39,324,000 after purchasing an additional 202,925 shares during the last quarter. Sivik Global Healthcare LLC bought a new stake in shares of Portola Pharmaceuticals in the second quarter worth about $1,685,000. State Street Corp increased its holdings in shares of Portola Pharmaceuticals by 5.3% in the second quarter. State Street Corp now owns 2,085,838 shares of the biopharmaceutical company’s stock worth $117,164,000 after purchasing an additional 105,207 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Portola Pharmaceuticals in the second quarter worth about $1,047,000. Finally, Numeric Investors LLC bought a new stake in shares of Portola Pharmaceuticals in the second quarter worth about $753,000. 87.25% of the stock is currently owned by institutional investors and hedge funds.
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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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