Portola Pharmaceuticals Inc (PTLA) Shares Bought by Zevenbergen Capital Investments LLC
Zevenbergen Capital Investments LLC boosted its position in shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 27.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 577,565 shares of the biopharmaceutical company’s stock after acquiring an additional 125,375 shares during the period. Portola Pharmaceuticals accounts for 1.4% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 27th biggest holding. Zevenbergen Capital Investments LLC owned approximately 1.00% of Portola Pharmaceuticals worth $31,206,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 period. Jacobi Capital Management LLC bought a new position in shares of Portola Pharmaceuticals during the 2nd quarter worth about $125,000. IFP Advisors Inc increased its holdings in shares of Portola Pharmaceuticals by 7.7% during the 2nd quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 170 shares during the period. QS Investors LLC bought a new position in shares of Portola Pharmaceuticals during the 2nd quarter worth about $147,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Portola Pharmaceuticals during the 3rd quarter worth about $178,000. 82.36% of the stock is owned by hedge funds and other institutional investors.
PTLA has been the topic of several research reports. BidaskClub downgraded shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research downgraded shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Credit Suisse Group set a $70.00 price objective on shares of Portola Pharmaceuticals and gave the stock a “hold” rating in a report on Thursday, August 10th. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $80.00 price objective on shares of Portola Pharmaceuticals in a report on Wednesday, September 6th. Finally, Morgan Stanley restated an “overweight” rating and set a $81.00 price objective (up previously from $75.00) on shares of Portola Pharmaceuticals in a report on Friday, October 6th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $65.15.
Shares of Portola Pharmaceuticals Inc (NASDAQ PTLA) opened at $50.55 on Monday. Portola Pharmaceuticals Inc has a 52 week low of $17.15 and a 52 week high of $67.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.31 and a quick ratio of 8.31.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.49) by $0.08. The business had revenue of $3.83 million for the quarter, compared to analysts’ expectations of $4.71 million. Portola Pharmaceuticals had a negative net margin of 938.19% and a negative return on equity of 110.46%. The firm’s revenue for the quarter was down 58.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.64) earnings per share. equities analysts expect that Portola Pharmaceuticals Inc will post -4.95 EPS for the current year.
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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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