Oppenheimer Reiterates $80.00 Price Target for Portola Pharmaceuticals (NASDAQ:PTLA)

Oppenheimer set a $80.00 price target on Portola Pharmaceuticals (NASDAQ:PTLA) in a research report sent to investors on Monday, January 15th. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

PTLA has been the topic of several other research reports. Zacks Investment Research upgraded shares of 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 target price on shares of Portola Pharmaceuticals in a research note on Thursday, December 28th. Goldman Sachs Group initiated coverage on shares of Portola Pharmaceuticals in a research note on Friday, December 1st. They issued a buy rating and a $75.00 target price on the stock. Morgan Stanley reissued an overweight rating and issued a $81.00 target price (up previously from $75.00) on shares of Portola Pharmaceuticals in a research note on Friday, October 6th. Finally, BidaskClub raised shares of Portola Pharmaceuticals from a strong sell rating to a sell rating in a research note on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $70.65.

Shares of Portola Pharmaceuticals (NASDAQ:PTLA) opened at $49.45 on Monday. 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 52 week low of $24.53 and a 52 week high of $67.10. The stock has a market cap of $3,238.43, a price-to-earnings ratio of -11.45 and a beta of 1.21.

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

In other news, Director Henry Ward Wolff sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $47.00, for a total transaction of $564,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Kornitzer Capital Management Inc. KS increased its stake in Portola Pharmaceuticals by 38.7% in the third 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 in the last quarter. State Street Corp increased its stake in Portola Pharmaceuticals by 5.3% in the second 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 in the last quarter. Goldman Sachs Group Inc. increased its stake in Portola Pharmaceuticals by 17.2% in the second quarter. Goldman Sachs Group Inc. now owns 688,092 shares of the biopharmaceutical company’s stock valued at $38,650,000 after purchasing an additional 101,046 shares in the last quarter. Numeric Investors LLC bought a new stake in Portola Pharmaceuticals in the second quarter valued at approximately $753,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Portola Pharmaceuticals by 69.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 7,452 shares of the biopharmaceutical company’s stock worth $403,000 after acquiring an additional 3,044 shares in the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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