Portola Pharmaceuticals (PTLA) Rating Lowered to Strong Sell at BidaskClub

Portola Pharmaceuticals (NASDAQ:PTLA) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Citigroup reissued a “buy” rating and issued a $74.00 price objective on shares of Portola Pharmaceuticals in a report on Thursday, December 28th. Oppenheimer reissued an “outperform” rating on shares of Portola Pharmaceuticals in a report on Tuesday, January 2nd. William Blair reissued a “buy” rating on shares of Portola Pharmaceuticals in a report on Monday, January 1st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $81.00 price objective (up previously from $75.00) on shares of Portola Pharmaceuticals in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $70.65.

Shares of Portola Pharmaceuticals (NASDAQ:PTLA) opened at $49.69 on Friday. The company has a market capitalization of $3,240.00, a P/E ratio of -11.50 and a beta of 1.21. 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 has a twelve month low of $24.53 and a twelve month high of $67.10.

Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($1.41) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.08. The company had revenue of $3.83 million during the quarter, compared to the consensus estimate of $4.71 million. Portola Pharmaceuticals had a negative return on equity of 110.46% and a negative net margin of 938.19%. The firm’s revenue for the quarter was down 58.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.64) EPS. analysts forecast that Portola Pharmaceuticals will post -4.94 earnings per share for the current year.

In other Portola Pharmaceuticals news, Director Henry Ward Wolff sold 12,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $47.00, for a total transaction of $564,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in PTLA. Renaissance Technologies LLC acquired a new stake in Portola Pharmaceuticals during the 2nd quarter valued at $21,187,000. Kornitzer Capital Management Inc. KS lifted its holdings in Portola Pharmaceuticals by 38.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 727,812 shares of the biopharmaceutical company’s stock valued at $39,324,000 after purchasing an additional 202,925 shares during the last quarter. Zevenbergen Capital Investments LLC lifted its holdings in Portola Pharmaceuticals by 71.4% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 452,190 shares of the biopharmaceutical company’s stock valued at $25,400,000 after purchasing an additional 188,320 shares during the last quarter. Blue Jay Capital Management LLC acquired a new stake in Portola Pharmaceuticals during the 2nd quarter valued at $6,740,000. Finally, State Street Corp lifted its holdings in Portola Pharmaceuticals by 5.3% during the 2nd quarter. State Street Corp now owns 2,085,838 shares of the biopharmaceutical company’s stock valued at $117,164,000 after purchasing an additional 105,207 shares during the last quarter. 87.25% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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