Portola Pharmaceuticals (PTLA) Stock Rating Lowered by Morgan Stanley
Morgan Stanley lowered shares of Portola Pharmaceuticals (NASDAQ:PTLA) from an overweight rating to an equal weight rating in a report issued on Thursday, Marketbeat.com reports. The firm currently has $65.00 price objective on the biopharmaceutical company’s stock.
Other research analysts have also issued research reports about the stock. Goldman Sachs Group started 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 on the stock. Oppenheimer restated a buy rating and set a $80.00 price target on shares of Portola Pharmaceuticals in a research note on Tuesday, November 7th. William Blair reiterated a buy rating on shares of Portola Pharmaceuticals in a research note on Monday, January 1st. Citigroup reiterated 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 upgraded shares of Portola Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $64.90.
Shares of Portola Pharmaceuticals (NASDAQ PTLA) traded up $2.69 during trading on Thursday, reaching $34.25. 3,080,000 shares of the company’s stock were exchanged, compared to its average volume of 1,260,000. 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 has a twelve month low of $30.10 and a twelve month high of $67.10. The firm has a market cap of $2,230.00, a price-to-earnings ratio of -7.18 and a beta of 1.33.
In other news, Director Henry Ward Wolff sold 12,000 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $47.00, for a total value of $564,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. boosted its holdings in Portola Pharmaceuticals by 251.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 2,862 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 2,047 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Portola Pharmaceuticals by 54.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,219 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 1,141 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Portola Pharmaceuticals during the third quarter worth $178,000. Sei Investments Co. purchased a new stake in Portola Pharmaceuticals during the third quarter worth $217,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Portola Pharmaceuticals during the third quarter worth $218,000. 86.45% of the stock is currently owned by hedge funds and other institutional investors.
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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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