California Public Employees Retirement System decreased its holdings in shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 9.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 108,300 shares of the biopharmaceutical company’s stock after selling 11,518 shares during the period. California Public Employees Retirement System owned approximately 0.16% of Portola Pharmaceuticals worth $3,537,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. MetLife Investment Advisors LLC bought a new stake in shares of Portola Pharmaceuticals during the 4th quarter valued at $1,247,000. AXA increased its position in shares of Portola Pharmaceuticals by 32.1% in the 4th quarter. AXA now owns 80,600 shares of the biopharmaceutical company’s stock valued at $3,924,000 after buying an additional 19,600 shares in the last quarter. BlackRock Inc. increased its position in shares of Portola Pharmaceuticals by 6.7% in the 4th quarter. BlackRock Inc. now owns 4,696,591 shares of the biopharmaceutical company’s stock valued at $228,629,000 after buying an additional 293,802 shares in the last quarter. Xact Kapitalforvaltning AB bought a new stake in shares of Portola Pharmaceuticals in the 4th quarter valued at $355,000. Finally, Endurant Capital Management LP increased its position in shares of Portola Pharmaceuticals by 7.2% in the 4th quarter. Endurant Capital Management LP now owns 107,600 shares of the biopharmaceutical company’s stock valued at $5,238,000 after buying an additional 7,200 shares in the last quarter. Institutional investors own 85.28% of the company’s stock.
A number of research firms recently commented on PTLA. ValuEngine cut shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. BidaskClub upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. Oppenheimer set a $67.00 price objective on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, March 13th. Citigroup upped their price objective on shares of Portola Pharmaceuticals to $64.00 and gave the company a “buy” rating in a research report on Monday, May 7th. Finally, William Blair restated a “buy” rating on shares of Portola Pharmaceuticals in a research report on Tuesday, March 13th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $64.00.
Shares of NASDAQ PTLA opened at $37.77 on Friday. The firm has a market capitalization of $2.50 billion, a P/E ratio of -7.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.59 and a quick ratio of 7.53. Portola Pharmaceuticals Inc has a 1-year low of $30.10 and a 1-year high of $67.10.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.22) by ($0.06). The company had revenue of $6.64 million during the quarter, compared to analyst estimates of $3.20 million. Portola Pharmaceuticals had a negative return on equity of 109.35% and a negative net margin of 1,364.89%. Portola Pharmaceuticals’s revenue for the quarter was up 29.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.74) earnings per share. sell-side analysts expect that Portola Pharmaceuticals Inc will post -5.33 earnings per share for the current year.
In related news, CEO William Lis sold 5,113 shares of the company’s stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $45.21, for a total value of $231,158.73. Following the completion of the transaction, the chief executive officer now directly owns 222,035 shares of the company’s stock, valued at approximately $10,038,202.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.60% of the stock is currently owned by corporate insiders.
Portola Pharmaceuticals Profile
Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics in the areas of thrombosis, other hematologic disorders, and inflammation. The company is developing Betrixaban, an oral once-daily Factor Xa inhibitor for hospital and extended duration prophylaxis of venous thromboembolism in adults hospitalized for an acute medical illness; Andexanet alfa, a recombinant protein that is in Phase III study for reverse anticoagulant activity in patients treated with fXa inhibitor; and Cerdulatinib, a spleen tyrosine kinase inhibitor, which is in Phase IIa clinical stage to treat hematologic cancers.
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