Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) Shares Sold by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. decreased its stake in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) by 17.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 522,237 shares of the biopharmaceutical company’s stock after selling 108,621 shares during the period. Pictet Asset Management Ltd.’s holdings in Portola Pharmaceuticals were worth $19,244,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of PTLA. IFP Advisors Inc increased its position in shares of Portola Pharmaceuticals by 7.7% in the second quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 170 shares during the last quarter. First Mercantile Trust Co. acquired a new position in shares of Portola Pharmaceuticals during the first quarter valued at approximately $165,000. Ameritas Investment Partners Inc. acquired a new position in shares of Portola Pharmaceuticals during the first quarter valued at approximately $167,000. Aperio Group LLC acquired a new position in shares of Portola Pharmaceuticals during the second quarter valued at approximately $250,000. Finally, Fortaleza Asset Management Inc. acquired a new position in shares of Portola Pharmaceuticals during the first quarter valued at approximately $193,000. 86.26% of the stock is owned by hedge funds and other institutional investors.
Shares of Portola Pharmaceuticals, Inc. (NASDAQ PTLA) opened at 55.68 on Friday. Portola Pharmaceuticals, Inc. has a one year low of $15.68 and a one year high of $67.10. The company’s market capitalization is $3.21 billion. The company has a 50-day moving average price of $60.73 and a 200 day moving average price of $42.42.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.10) by $0.12. Portola Pharmaceuticals had a negative return on equity of 145.12% and a negative net margin of 807.93%. The business had revenue of $3.79 million during the quarter, compared to the consensus estimate of $4.28 million. During the same quarter in the prior year, the business posted ($1.02) earnings per share. Portola Pharmaceuticals’s quarterly revenue was down 10.4% compared to the same quarter last year. Equities analysts anticipate that Portola Pharmaceuticals, Inc. will post ($4.86) EPS for the current year.
Several research analysts have commented on the company. Credit Suisse Group set a $70.00 target price on Portola Pharmaceuticals and gave the stock a “hold” rating in a research note on Thursday. They noted that the move was a valuation call. BidaskClub downgraded Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Zacks Investment Research downgraded Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday. Oppenheimer Holdings, Inc. boosted their target price on Portola Pharmaceuticals from $46.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, June 26th. Finally, Cowen and Company boosted their price target on Portola Pharmaceuticals from $45.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, June 26th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $63.77.
In related news, CEO William Lis sold 269,299 shares of Portola Pharmaceuticals stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $55.43, for a total transaction of $14,927,243.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Tao Fu sold 5,812 shares of Portola Pharmaceuticals stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total value of $377,780.00. The disclosure for this sale can be found here. Insiders have sold 2,289,656 shares of company stock worth $91,298,131 over the last 90 days. 4.90% of the stock is currently owned by corporate insiders.
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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