Portola Pharmaceuticals, Inc. (PTLA) Holdings Lowered by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. cut its position in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) by 30.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 276,067 shares of the biopharmaceutical company’s stock after selling 123,617 shares during the period. UBS Asset Management Americas Inc. owned 0.48% of Portola Pharmaceuticals worth $15,507,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Portola Pharmaceuticals by 14.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock worth $117,000 after purchasing an additional 258 shares during the last quarter. Jacobi Capital Management LLC acquired a new position in shares of Portola Pharmaceuticals during the second quarter worth $125,000. IFP Advisors Inc grew its stake in shares of Portola Pharmaceuticals by 7.7% during the second quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 170 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Portola Pharmaceuticals during the first quarter worth $167,000. Finally, Credit Agricole S A acquired a new position in shares of Portola Pharmaceuticals during the first quarter worth $196,000. 85.02% of the stock is currently owned by institutional investors.
In related news, VP Mardi Dier sold 23,350 shares of Portola Pharmaceuticals stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $60.00, for a total value of $1,401,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tao Fu sold 5,812 shares of Portola Pharmaceuticals stock in a transaction dated Tuesday, July 18th. The stock was 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 39,162 shares of company stock valued at $2,428,780 in the last three months. Corporate insiders own 4.90% of the company’s stock.
Portola Pharmaceuticals, Inc. (PTLA) opened at 54.39 on Tuesday. Portola Pharmaceuticals, Inc. has a one year low of $15.68 and a one year high of $67.10. The stock’s market cap is $3.14 billion. The firm’s 50 day moving average price is $56.08 and its 200 day moving average price is $48.59.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.10) by ($0.12). The business had revenue of $3.79 million during the quarter, compared to analyst estimates of $4.28 million. Portola Pharmaceuticals had a negative net margin of 807.93% and a negative return on equity of 145.12%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the company earned ($1.02) earnings per share. Equities analysts forecast that Portola Pharmaceuticals, Inc. will post ($4.83) earnings per share for the current year.
Several research firms recently commented on PTLA. Citigroup Inc. set a $51.00 price target on Portola Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, June 17th. BidaskClub raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. William Blair reaffirmed an “outperform” rating on shares of Portola Pharmaceuticals in a research report on Monday, June 26th. Cowen and Company increased their price objective on Portola Pharmaceuticals from $45.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, June 26th. Finally, Oppenheimer Holdings, Inc. increased their price objective on Portola Pharmaceuticals from $46.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 26th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $63.77.
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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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