Portola Pharmaceuticals (PTLA) Lowered to Sell at Zacks Investment Research
Zacks Investment Research cut shares of Portola Pharmaceuticals (NASDAQ:PTLA) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.
According to Zacks, “Portola Pharmaceuticals, Inc. is a biopharmaceutical company .It focuses on the development and commercialization of therapeutics for thrombosis, other hematologic disorders and inflammation. Portola Pharmaceuticals, Inc. is headquartered in South San Francisco, California. “
Several other research firms also recently issued reports on PTLA. Oppenheimer reaffirmed a buy rating and set a $80.00 price target on shares of Portola Pharmaceuticals in a research note on Wednesday, September 6th. BidaskClub downgraded shares of Portola Pharmaceuticals from a sell rating to a strong sell rating in a research note on Thursday, December 7th. William Blair reaffirmed a buy rating on shares of Portola Pharmaceuticals in a research note on Monday, January 1st. Morgan Stanley reaffirmed an overweight rating and set a $81.00 price target (up previously from $75.00) on shares of Portola Pharmaceuticals in a research note on Friday, October 6th. Finally, Goldman Sachs Group initiated coverage on shares of Portola Pharmaceuticals in a research note on Friday, December 1st. They set a buy rating and a $75.00 price target for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $70.65.
Shares of Portola Pharmaceuticals (NASDAQ:PTLA) traded down $0.70 during trading on Thursday, reaching $47.99. 948,798 shares of the company’s stock were exchanged, compared to its average volume of 991,792. Portola Pharmaceuticals has a 1 year low of $23.70 and a 1 year 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. The firm has a market capitalization of $3,130.00, a price-to-earnings ratio of -11.11 and a beta of 1.21.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.49) by $0.08. The firm had revenue of $3.83 million during the quarter, compared to the consensus estimate of $4.71 million. Portola Pharmaceuticals had a negative net margin of 938.19% and a negative return on equity of 110.46%. The company’s revenue for the quarter was down 58.9% on a year-over-year basis. During the same quarter last year, the firm earned ($1.64) earnings per share. research analysts expect that Portola Pharmaceuticals will post -4.94 earnings per share for the current year.
In related news, Director Henry Ward Wolff sold 12,000 shares of Portola Pharmaceuticals stock in a transaction on Friday, December 15th. The shares were sold at an average price of $47.00, for a total transaction of $564,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC raised its stake in Portola Pharmaceuticals by 392.7% during the third quarter. Neuberger Berman Group LLC now owns 23,014 shares of the biopharmaceutical company’s stock worth $1,243,000 after buying an additional 18,343 shares during the last quarter. California Public Employees Retirement System raised its stake in Portola Pharmaceuticals by 3.8% during the third quarter. California Public Employees Retirement System now owns 40,500 shares of the biopharmaceutical company’s stock worth $2,188,000 after buying an additional 1,500 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in Portola Pharmaceuticals during the third quarter worth $276,000. Cubist Systematic Strategies LLC bought a new position in Portola Pharmaceuticals during the third quarter worth $218,000. Finally, Sectoral Asset Management Inc raised its stake in Portola Pharmaceuticals by 20.0% during the third quarter. Sectoral Asset Management Inc now owns 506,414 shares of the biopharmaceutical company’s stock worth $27,362,000 after buying an additional 84,271 shares during the last quarter. 87.25% of the stock is owned by institutional investors and hedge funds.
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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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