Teachers Retirement System of The State of Kentucky reduced its stake in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,312 shares of the biopharmaceutical company’s stock after selling 1,105 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.05% of Portola Pharmaceuticals worth $1,703,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Portola Pharmaceuticals in the first quarter valued at $968,000. Sivik Global Healthcare LLC acquired a new stake in shares of Portola Pharmaceuticals in the second quarter valued at $1,685,000. UBS Asset Management Americas Inc. raised its stake in shares of Portola Pharmaceuticals by 32.0% in the first quarter. UBS Asset Management Americas Inc. now owns 399,684 shares of the biopharmaceutical company’s stock valued at $15,664,000 after acquiring an additional 96,962 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Portola Pharmaceuticals in the second quarter valued at $1,047,000. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Portola Pharmaceuticals by 4.0% in the first quarter. TIAA CREF Investment Management LLC now owns 223,924 shares of the biopharmaceutical company’s stock valued at $8,776,000 after acquiring an additional 8,673 shares in the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.

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Shares of Portola Pharmaceuticals, Inc. (PTLA) opened at 53.93 on Thursday. Portola Pharmaceuticals, Inc. has a 52-week low of $15.68 and a 52-week high of $67.10. The firm’s market cap is $3.11 billion. The stock’s 50 day moving average price is $56.02 and its 200-day moving average price is $48.73.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.12). The company had revenue of $3.79 million during 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 business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter last year, the company posted ($1.02) EPS. On average, equities research analysts anticipate that Portola Pharmaceuticals, Inc. will post ($4.83) earnings per share for the current fiscal year.

In other news, EVP Tao Fu sold 5,812 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total value of $377,780.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Mardi Dier sold 23,350 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $60.00, for a total transaction of $1,401,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,162 shares of company stock worth $2,428,780. Company insiders own 4.90% of the company’s stock.

Several analysts have recently issued reports on the company. Credit Suisse Group reiterated a “neutral” rating and issued a $58.00 price objective (up from $39.00) on shares of Portola Pharmaceuticals in a research note on Monday, June 26th. Morgan Stanley raised their price target on Portola Pharmaceuticals from $50.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 26th. Cowen and Company raised their price target on Portola Pharmaceuticals from $45.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, June 26th. Oppenheimer Holdings, Inc. raised their price target on Portola Pharmaceuticals from $46.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 26th. Finally, William Blair restated an “outperform” rating on shares of Portola Pharmaceuticals in a research note on Monday, June 26th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $63.77.

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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