Fernwood Investment Management LLC increased its position in shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) by 4.8% during the second quarter, Holdings Channel reports. The firm owned 238,877 shares of the biopharmaceutical company’s stock after buying an additional 10,975 shares during the period. Portola Pharmaceuticals accounts for 9.7% of Fernwood Investment Management LLC’s investment portfolio, making the stock its largest position. Fernwood Investment Management LLC’s holdings in Portola Pharmaceuticals were worth $13,418,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PTLA. Vanguard Group Inc. raised its position in Portola Pharmaceuticals by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,614,814 shares of the biopharmaceutical company’s stock worth $180,855,000 after buying an additional 192,420 shares during the period. BlackRock Inc. raised its position in Portola Pharmaceuticals by 68,964.1% in the first quarter. BlackRock Inc. now owns 4,034,725 shares of the biopharmaceutical company’s stock worth $158,121,000 after buying an additional 4,028,883 shares during the period. FMR LLC raised its position in Portola Pharmaceuticals by 5.6% in the first quarter. FMR LLC now owns 3,902,000 shares of the biopharmaceutical company’s stock worth $152,919,000 after buying an additional 205,751 shares during the period. Kornitzer Capital Management Inc. KS bought a new position in Portola Pharmaceuticals during the second quarter worth about $29,483,000. Finally, Geode Capital Management LLC raised its position in Portola Pharmaceuticals by 9.4% in the first quarter. Geode Capital Management LLC now owns 481,732 shares of the biopharmaceutical company’s stock worth $18,879,000 after buying an additional 41,524 shares during the period. Hedge funds and other institutional investors own 86.47% of the company’s stock.

Shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) opened at 55.01 on Wednesday. The stock’s market capitalization is $3.17 billion. The firm’s 50-day moving average price is $60.65 and its 200-day moving average price is $43.10. Portola Pharmaceuticals, Inc. has a one year low of $15.68 and a one year high of $67.10.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.10) by $0.12. The business had revenue of $3.79 million for 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 firm’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.02) earnings per share. Equities research analysts anticipate that Portola Pharmaceuticals, Inc. will post ($4.86) EPS for the current fiscal year.

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PTLA has been the subject of a number of recent research reports. BidaskClub upgraded Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Zacks Investment Research upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Tuesday, July 18th. Citigroup Inc. set a $51.00 target price on Portola Pharmaceuticals and gave the company a “buy” rating in a report on Saturday, June 17th. Credit Suisse Group set a $70.00 target price on Portola Pharmaceuticals and gave the company a “hold” rating in a report on Thursday, August 10th. They noted that the move was a valuation call. Finally, Oppenheimer Holdings, Inc. lifted their target price on Portola Pharmaceuticals from $66.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, July 24th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Portola Pharmaceuticals has a consensus rating of “Buy” and an average target price of $63.77.

In other news, EVP Tao Fu sold 5,812 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $65.00, for a total transaction of $377,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey W. Bird bought 119,442 shares of the stock in a transaction dated Thursday, June 1st. The shares were acquired at an average price of $31.85 per share, with a total value of $3,804,227.70. Following the completion of the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at $95,550. The disclosure for this purchase can be found here. Insiders have sold 2,289,656 shares of company stock valued at $91,298,131 over the last 90 days. Insiders own 4.90% of the company’s stock.

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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Institutional Ownership by Quarter for Portola Pharmaceuticals (NASDAQ:PTLA)

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