Zacks: Brokerages Anticipate Portola Pharmaceuticals, Inc. (PTLA) Will Post Quarterly Sales of $2.42 Million
Brokerages expect Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) to announce $2.42 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Portola Pharmaceuticals’ earnings, with estimates ranging from $2.40 million to $2.44 million. Portola Pharmaceuticals reported sales of $9.32 million during the same quarter last year, which indicates a negative year over year growth rate of 74%. The firm is expected to issue its next quarterly earnings report on Monday, November 6th.
According to Zacks, analysts expect that Portola Pharmaceuticals will report full year sales of $2.42 million for the current financial year, with estimates ranging from $13.72 million to $24.44 million. For the next financial year, analysts forecast that the business will report sales of $261.26 million per share, with estimates ranging from $158.00 million to $369.15 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Portola Pharmaceuticals.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.10) by $0.12. Portola Pharmaceuticals had a negative return on equity of 145.12% and a negative net margin of 807.93%. The business had revenue of $3.79 million for the quarter, compared to the consensus estimate of $4.28 million. During the same quarter in the prior year, the company earned ($1.02) earnings per share. Portola Pharmaceuticals’s quarterly revenue was down 10.4% compared to the same quarter last year.
Several equities research analysts recently issued reports on the company. Credit Suisse Group reissued a “neutral” rating and set a $58.00 price objective (up previously from $39.00) on shares of Portola Pharmaceuticals in a research note on Monday, June 26th. ValuEngine raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. set a $46.00 price target on Portola Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Morgan Stanley lifted their price target on Portola Pharmaceuticals from $50.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, June 26th. Finally, Cowen and Company lifted their price target on Portola Pharmaceuticals from $45.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, June 26th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $63.77.
Shares of Portola Pharmaceuticals (PTLA) traded up 4.58% during mid-day trading on Monday, hitting $63.45. The company had a trading volume of 740,957 shares. The company’s market capitalization is $3.66 billion. The company’s 50-day moving average is $60.48 and its 200 day moving average is $45.42. Portola Pharmaceuticals has a one year low of $15.68 and a one year high of $67.10.
In other news, EVP Tao Fu sold 7,000 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $57.14, for a total value of $399,980.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles J. Homcy sold 120,803 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $53.06, for a total value of $6,409,807.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 589,656 shares of company stock valued at $32,818,131. Corporate insiders own 4.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in PTLA. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Portola Pharmaceuticals by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 258 shares during the period. Jacobi Capital Management LLC bought a new stake in Portola Pharmaceuticals during the second quarter worth $125,000. IFP Advisors Inc raised 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 period. QS Investors LLC bought a new stake in Portola Pharmaceuticals during the second quarter worth $147,000. Finally, SVA Plumb Wealth Management LLC bought a new stake in Portola Pharmaceuticals during the second quarter worth $205,000. 85.27% of the stock is owned by 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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