Nicholas Investment Partners LP Sells 27,170 Shares of Portola Pharmaceuticals Inc (PTLA)

Nicholas Investment Partners LP lowered its holdings in Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 29.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,005 shares of the biopharmaceutical company’s stock after selling 27,170 shares during the period. Nicholas Investment Partners LP owned about 0.10% of Portola Pharmaceuticals worth $3,458,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Hanseatic Management Services Inc. boosted its holdings in Portola Pharmaceuticals by 0.3% in the second quarter. Hanseatic Management Services Inc. now owns 22,800 shares of the biopharmaceutical company’s stock valued at $1,281,000 after purchasing an additional 70 shares during the last quarter. IFP Advisors Inc boosted its holdings in Portola Pharmaceuticals by 7.7% in the second quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 170 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 valued at $117,000 after purchasing an additional 258 shares during the last quarter. Amalgamated Bank boosted its holdings in Portola Pharmaceuticals by 5.4% in the second quarter. Amalgamated Bank now owns 6,376 shares of the biopharmaceutical company’s stock valued at $358,000 after purchasing an additional 328 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Portola Pharmaceuticals by 0.6% in the second quarter. Principal Financial Group Inc. now owns 62,693 shares of the biopharmaceutical company’s stock valued at $3,521,000 after purchasing an additional 371 shares during the last quarter. 87.45% of the stock is owned by hedge funds and other institutional investors.

Portola Pharmaceuticals Inc (PTLA) opened at $50.78 on Wednesday. The company has a quick ratio of 8.31, a current ratio of 8.31 and a debt-to-equity ratio of 0.24. Portola Pharmaceuticals Inc has a 1-year low of $17.48 and a 1-year high of $67.10.

Portola Pharmaceuticals (NASDAQ:PTLA) last released its earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.08. Portola Pharmaceuticals had a negative return on equity of 110.46% and a negative net margin of 938.19%. The company had revenue of $3.83 million for the quarter, compared to the consensus estimate of $4.71 million. During the same quarter last year, the business posted ($1.64) EPS. Portola Pharmaceuticals’s quarterly revenue was down 58.9% compared to the same quarter last year. sell-side analysts anticipate that Portola Pharmaceuticals Inc will post -4.95 earnings per share for the current year.

A number of research analysts recently commented on PTLA shares. Goldman Sachs Group started coverage on Portola Pharmaceuticals in a report on Friday, December 1st. They issued a “buy” rating and a $75.00 price target for the company. Oppenheimer reissued a “buy” rating and issued a $80.00 price target on shares of Portola Pharmaceuticals in a report on Tuesday, November 7th. Credit Suisse Group set a $70.00 price target on Portola Pharmaceuticals and gave the company a “hold” rating in a report on Thursday, August 10th. They noted that the move was a valuation call. Zacks Investment Research downgraded Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, BidaskClub raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $71.15.

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Portola Pharmaceuticals 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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