Portola Pharmaceuticals (PTLA) Receives Buy Rating from Cowen

Portola Pharmaceuticals (NASDAQ:PTLA)‘s stock had its “buy” rating reiterated by research analysts at Cowen in a report issued on Wednesday, May 8th, AnalystRatings.com reports.

The analysts wrote, “We look forward to the first in human data using the “Process B” and believe its use of higher cell doses, transduction enhancers, and commercial-grade vectors will promote higher VCN (≥1) resulting in more clinically meaningful outcomes.””

Other research analysts also recently issued research reports about the company. ValuEngine upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. BidaskClub downgraded Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, April 22nd. Zacks Investment Research downgraded Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Oppenheimer set a $42.00 price objective on Portola Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, BNP Paribas increased their price target on Portola Pharmaceuticals from $30.00 to $42.00 and gave the stock a “positive” rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $42.29.

Shares of NASDAQ:PTLA opened at $27.89 on Wednesday. The company has a market cap of $2.00 billion, a PE ratio of -5.57 and a beta of 2.35. Portola Pharmaceuticals has a twelve month low of $14.81 and a twelve month high of $45.60. The company has a current ratio of 4.81, a quick ratio of 4.77 and a debt-to-equity ratio of 5.15.

Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.02) EPS for the quarter, meeting analysts’ consensus estimates of ($1.02). The business had revenue of $22.17 million during the quarter, compared to analyst estimates of $20.60 million. Portola Pharmaceuticals had a negative return on equity of 238.48% and a negative net margin of 618.46%. Portola Pharmaceuticals’s quarterly revenue was up 233.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.28) EPS. Equities analysts predict that Portola Pharmaceuticals will post -4.13 EPS for the current fiscal year.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC raised its holdings in shares of Portola Pharmaceuticals by 79.9% during the 1st quarter. Jane Street Group LLC now owns 63,092 shares of the biopharmaceutical company’s stock valued at $2,189,000 after buying an additional 28,021 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Portola Pharmaceuticals by 7.0% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,190 shares of the biopharmaceutical company’s stock valued at $285,000 after buying an additional 538 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Portola Pharmaceuticals by 122.4% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 243,290 shares of the biopharmaceutical company’s stock valued at $8,442,000 after buying an additional 133,890 shares in the last quarter. Man Group plc grew its position in Portola Pharmaceuticals by 163.5% during the 1st quarter. Man Group plc now owns 104,190 shares of the biopharmaceutical company’s stock worth $3,615,000 after acquiring an additional 64,654 shares during the last quarter. Finally, SEI Investments Co grew its position in Portola Pharmaceuticals by 177.8% during the 1st quarter. SEI Investments Co now owns 469,187 shares of the biopharmaceutical company’s stock worth $16,281,000 after acquiring an additional 300,273 shares during the last quarter.

Portola Pharmaceuticals Company Profile

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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