Portola Pharmaceuticals Inc (PTLA) Holdings Raised by Wells Fargo & Company MN
Wells Fargo & Company MN raised its stake in shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 1,367.8% in the fourth quarter, Holdings Channel reports. The fund owned 686,816 shares of the biopharmaceutical company’s stock after purchasing an additional 640,023 shares during the period. Wells Fargo & Company MN’s holdings in Portola Pharmaceuticals were worth $33,434,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in PTLA. Parametric Portfolio Associates LLC boosted its stake in shares of Portola Pharmaceuticals by 11.0% in the second quarter. Parametric Portfolio Associates LLC now owns 35,675 shares of the biopharmaceutical company’s stock valued at $2,004,000 after purchasing an additional 3,530 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Portola Pharmaceuticals in the second quarter valued at approximately $248,000. Nationwide Fund Advisors boosted its stake in shares of Portola Pharmaceuticals by 20.4% in the third quarter. Nationwide Fund Advisors now owns 62,176 shares of the biopharmaceutical company’s stock valued at $3,359,000 after purchasing an additional 10,526 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Portola Pharmaceuticals in the third quarter valued at approximately $178,000. Finally, Kornitzer Capital Management Inc. KS boosted its stake 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 valued at $39,324,000 after purchasing an additional 202,925 shares during the period. Institutional investors and hedge funds own 87.52% of the company’s stock.
In related news, Director Henry Ward Wolff sold 12,000 shares of Portola Pharmaceuticals stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $47.00, for a total value of $564,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.50% of the stock is owned by insiders.
Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.46) by $0.05. Portola Pharmaceuticals had a negative net margin of 1,268.34% and a negative return on equity of 108.43%. The company had revenue of $9.80 million during the quarter, compared to the consensus estimate of $3.71 million. During the same quarter in the previous year, the firm earned ($0.95) earnings per share. The firm’s quarterly revenue was down 28.4% on a year-over-year basis. equities analysts expect that Portola Pharmaceuticals Inc will post -4.9 EPS for the current fiscal year.
PTLA has been the subject of several recent research reports. Oppenheimer set a $80.00 price objective on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, January 15th. Goldman Sachs Group initiated coverage on shares of Portola Pharmaceuticals in a research note on Friday, December 1st. They issued a “buy” rating and a $75.00 price objective for the company. BidaskClub lowered shares of Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, January 19th. Citigroup reissued a “buy” rating and issued a $74.00 price objective on shares of Portola Pharmaceuticals in a research note on Thursday, December 28th. Finally, Zacks Investment Research raised shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $64.90.
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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.
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