Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) - Investment analysts at William Blair reduced their FY2017 earnings per share estimates for shares of Portola Pharmaceuticals in a report released on Wednesday. William Blair analyst M. Phipps now expects that the biopharmaceutical company will post earnings per share of ($4.86) for the year, down from their prior estimate of ($4.85). William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Portola Pharmaceuticals’ FY2018 earnings at ($2.73) EPS.
Several other equities analysts have also issued reports on the company. Credit Suisse Group set a $70.00 price target on Portola Pharmaceuticals and gave the stock a “hold” rating in a research report on Thursday, August 10th. They noted that the move was a valuation call. Zacks Investment Research lowered Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub lowered Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Oppenheimer Holdings, Inc. raised their price target on Portola Pharmaceuticals from $66.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. Finally, Morgan Stanley raised their price target on Portola Pharmaceuticals from $50.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, June 26th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $63.77.
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Portola Pharmaceuticals (NASDAQ PTLA) opened at 53.99 on Friday. The firm’s market capitalization is $3.11 billion. The company has a 50 day moving average price of $60.53 and a 200-day moving average price of $43.46. Portola Pharmaceuticals has a 1-year low of $15.68 and a 1-year high of $67.10.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.10) by $0.12. The company had revenue of $3.79 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.02) earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Portola Pharmaceuticals by 68,964.1% in the first quarter. BlackRock Inc. now owns 4,034,725 shares of the biopharmaceutical company’s stock worth $158,121,000 after buying an additional 4,028,883 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in Portola Pharmaceuticals during the second quarter worth approximately $29,483,000. Norges Bank purchased a new position in Portola Pharmaceuticals during the fourth quarter worth approximately $10,046,000. Renaissance Technologies LLC purchased a new position in Portola Pharmaceuticals during the second quarter worth approximately $21,187,000. Finally, Bogle Investment Management L P DE purchased a new position in Portola Pharmaceuticals during the first quarter worth approximately $12,945,000. Institutional investors own 86.47% of the company’s stock.
In other news, EVP Tao Fu sold 5,812 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $65.00, for a total value of $377,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $34.40, for a total value of $58,480,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,289,656 shares of company stock worth $91,298,131. Corporate insiders own 4.90% of the company’s stock.
About Portola Pharmaceuticals
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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