Portola Pharmaceuticals Inc (PTLA) Position Reduced by Partner Investment Management L.P.
Partner Investment Management L.P. trimmed its stake in shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 13.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,808 shares of the biopharmaceutical company’s stock after selling 10,676 shares during the quarter. Portola Pharmaceuticals accounts for 2.1% of Partner Investment Management L.P.’s holdings, making the stock its 9th largest holding. Partner Investment Management L.P. owned about 0.10% of Portola Pharmaceuticals worth $2,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of Portola Pharmaceuticals during the 1st quarter worth about $128,000. SeaCrest Wealth Management LLC acquired a new position in shares of Portola Pharmaceuticals during the 2nd quarter worth about $191,000. BB&T Securities LLC acquired a new position in shares of Portola Pharmaceuticals during the 2nd quarter worth about $201,000. Silvant Capital Management LLC acquired a new position in shares of Portola Pharmaceuticals during the 1st quarter worth about $186,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Portola Pharmaceuticals during the 2nd quarter worth about $230,000. 94.26% of the stock is owned by hedge funds and other institutional investors.
Portola Pharmaceuticals stock opened at $29.11 on Thursday. Portola Pharmaceuticals Inc has a fifty-two week low of $24.63 and a fifty-two week high of $56.91. The company has a quick ratio of 6.59, a current ratio of 6.69 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $1.90 billion, a PE ratio of -6.05 and a beta of 1.68.
Several research analysts have recently issued reports on the company. ValuEngine cut Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Zacks Investment Research downgraded Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Oppenheimer set a $80.00 target price on Portola Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, May 17th. Credit Suisse Group reissued an “underperform” rating and issued a $28.00 target price (down from $49.00) on shares of Portola Pharmaceuticals in a report on Friday, August 10th. Finally, Cowen reissued a “buy” rating on shares of Portola Pharmaceuticals in a report on Thursday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $52.17.
In related news, Director Jeffrey W. Bird acquired 390,000 shares of Portola Pharmaceuticals stock in a transaction on Thursday, August 23rd. The stock was purchased at an average cost of $25.84 per share, with a total value of $10,077,600.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey W. Bird acquired 137,563 shares of Portola Pharmaceuticals stock in a transaction on Tuesday, August 21st. The shares were bought at an average cost of $25.17 per share, with a total value of $3,462,460.71. The disclosure for this purchase can be found here. 4.60% of the stock is currently owned by insiders.
Portola Pharmaceuticals Company Profile
Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics in the areas of thrombosis, other hematologic disorders, and inflammation. The company is developing Betrixaban, an oral once-daily Factor Xa inhibitor for hospital and extended duration prophylaxis of venous thromboembolism in adults hospitalized for an acute medical illness; Andexanet alfa, a recombinant protein that is in Phase III study for reverse anticoagulant activity in patients treated with fXa inhibitor; and Cerdulatinib, a spleen tyrosine kinase inhibitor, which is in Phase IIa clinical stage to treat hematologic cancers.
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