Portola Pharmaceuticals (NASDAQ:PTLA) Rating Lowered to Hold at BidaskClub

Portola Pharmaceuticals (NASDAQ:PTLA) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, May 1st, BidAskClub reports.

PTLA has been the topic of a number of other research reports. Oppenheimer set a $30.00 price target on shares of Portola Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, January 14th. Zacks Investment Research lowered shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. ValuEngine lowered shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Finally, BNP Paribas lifted their target price on shares of Portola Pharmaceuticals from $30.00 to $42.00 and gave the company a “positive” rating in a research note on Monday, March 4th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Portola Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $42.29.

NASDAQ:PTLA traded down $0.87 during trading hours on Wednesday, reaching $29.55. The company’s stock had a trading volume of 835,535 shares, compared to its average volume of 1,339,782. The stock has a market cap of $2.01 billion, a PE ratio of -5.90 and a beta of 2.35. Portola Pharmaceuticals has a 1 year low of $14.81 and a 1 year high of $45.60. The company has a quick ratio of 4.77, a current ratio of 4.81 and a debt-to-equity ratio of 5.15.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.02). The business had revenue of $22.17 million for the quarter, compared to analyst estimates of $20.60 million. Portola Pharmaceuticals had a negative net margin of 618.46% and a negative return on equity of 238.48%. The company’s revenue was up 233.9% on a year-over-year basis. During the same quarter last year, the firm earned ($1.28) EPS. Sell-side analysts anticipate that Portola Pharmaceuticals will post -4.13 EPS for the current year.

In related news, CFO Mardi Dier sold 40,486 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $37.39, for a total transaction of $1,513,771.54. Following the sale, the chief financial officer now owns 66,733 shares of the company’s stock, valued at $2,495,146.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hollings Renton sold 5,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $34.45, for a total transaction of $172,250.00. Following the sale, the director now directly owns 14,000 shares in the company, valued at approximately $482,300. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of PTLA. Pacer Advisors Inc. purchased a new position in Portola Pharmaceuticals in the third quarter worth about $221,000. MetLife Investment Advisors LLC raised its holdings in Portola Pharmaceuticals by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 46,441 shares of the biopharmaceutical company’s stock worth $1,237,000 after buying an additional 16,509 shares during the last quarter. Legal & General Group Plc raised its holdings in Portola Pharmaceuticals by 15.7% in the third quarter. Legal & General Group Plc now owns 24,157 shares of the biopharmaceutical company’s stock worth $644,000 after buying an additional 3,284 shares during the last quarter. Evanson Asset Management LLC raised its holdings in Portola Pharmaceuticals by 37.0% in the fourth quarter. Evanson Asset Management LLC now owns 13,700 shares of the biopharmaceutical company’s stock worth $267,000 after buying an additional 3,700 shares during the last quarter. Finally, Peregrine Capital Management LLC purchased a new position in Portola Pharmaceuticals in the fourth quarter worth about $10,626,000.

About Portola Pharmaceuticals

Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes novel therapeutics in the areas of thrombosis and other hematologic disorders and inflammation in the United States. The company offers Andexxa, an antidote for patients treated with rivaroxaban and apixaban when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding; and Bevyxxa (betrixaban), an oral, once-daily Factor Xa inhibitor for the prevention of venous thromboembolism in adult patients hospitalized for an acute medical illness.

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Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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