Trexquant Investment LP Reduces Stake in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA)
Trexquant Investment LP decreased its position in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) by 66.3% during the second quarter, Holdings Channel reports. The fund owned 9,300 shares of the biopharmaceutical company’s stock after selling 18,321 shares during the period. Trexquant Investment LP’s holdings in Portola Pharmaceuticals were worth $522,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc boosted its stake in Portola Pharmaceuticals by 7.7% in the second quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 170 shares during the last quarter. First Mercantile Trust Co. bought a new stake in Portola Pharmaceuticals during the first quarter worth $165,000. Ameritas Investment Partners Inc. bought a new stake in Portola Pharmaceuticals during the first quarter worth $167,000. Fortaleza Asset Management Inc. bought a new stake in Portola Pharmaceuticals during the first quarter worth $193,000. Finally, Credit Agricole S A bought a new stake in Portola Pharmaceuticals during the first quarter worth $196,000. 86.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Portola Pharmaceuticals, Inc. (PTLA) opened at 55.68 on Friday. Portola Pharmaceuticals, Inc. has a 52 week low of $15.68 and a 52 week high of $67.10. The company’s market cap is $3.21 billion. The company has a 50 day moving average of $60.73 and a 200 day moving average of $42.42.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly 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 firm had revenue of $3.79 million during the quarter, compared to the consensus estimate of $4.28 million. Portola Pharmaceuticals had a negative return on equity of 145.12% and a negative net margin of 807.93%. Portola Pharmaceuticals’s revenue was down 10.4% on a year-over-year basis. During the same period last year, the business earned ($1.02) EPS. On average, analysts expect that Portola Pharmaceuticals, Inc. will post ($4.86) EPS for the current year.
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PTLA has been the topic of a number of research reports. Zacks Investment Research raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Tuesday, July 18th. Citigroup Inc. boosted their target price on shares of Portola Pharmaceuticals from $51.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, June 26th. Oppenheimer Holdings, Inc. set a $46.00 price objective on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, May 9th. BidaskClub raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, ValuEngine raised shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $63.77.
In other Portola Pharmaceuticals news, insider John T. Curnutte sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $65.00, for a total value of $650,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $34.40, for a total transaction of $58,480,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,289,656 shares of company stock worth $91,298,131. Insiders own 4.90% of the company’s stock.
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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