Portola Pharmaceuticals (NASDAQ:PTLA) Stock Rating Lowered by ValuEngine

Portola Pharmaceuticals (NASDAQ:PTLA) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Monday, ValuEngine reports.

Several other analysts also recently commented on the stock. BidaskClub downgraded shares of Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 26th. Zacks Investment Research raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Wednesday, October 9th. Morgan Stanley started coverage on shares of Portola Pharmaceuticals in a research report on Thursday, September 5th. They set a “hold” rating and a $37.00 price objective on the stock. William Blair reissued a “buy” rating on shares of Portola Pharmaceuticals in a research report on Friday, August 9th. Finally, Citigroup cut their price objective on shares of Portola Pharmaceuticals from $51.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $39.29.

PTLA stock traded up $1.05 during trading on Monday, hitting $28.36. 662,500 shares of the stock traded hands, compared to its average volume of 1,175,239. Portola Pharmaceuticals has a 1 year low of $14.81 and a 1 year high of $37.95. The firm’s 50 day moving average is $28.23 and its two-hundred day moving average is $29.30. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -5.66 and a beta of 2.09. The company has a debt-to-equity ratio of 453.47, a current ratio of 3.63 and a quick ratio of 3.61.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.92) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.05) by $0.13. Portola Pharmaceuticals had a negative net margin of 379.94% and a negative return on equity of 352.12%. The company had revenue of $28.42 million for the quarter, compared to the consensus estimate of $25.42 million. During the same period in the prior year, the firm posted ($1.61) EPS. Portola Pharmaceuticals’s revenue for the quarter was up 608.7% on a year-over-year basis. As a group, analysts anticipate that Portola Pharmaceuticals will post -3.77 EPS for the current fiscal year.

In other news, Director Hollings Renton sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. Following the sale, the director now owns 18,194 shares of the company’s stock, valued at approximately $545,820. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in PTLA. Next Capital Management LLC purchased a new stake in shares of Portola Pharmaceuticals during the 2nd quarter valued at about $27,000. Point72 Hong Kong Ltd bought a new position in shares of Portola Pharmaceuticals in the 2nd quarter worth approximately $31,000. Valley National Advisers Inc. lifted its stake in shares of Portola Pharmaceuticals by 32.0% in the 2nd quarter. Valley National Advisers Inc. now owns 4,046 shares of the biopharmaceutical company’s stock worth $110,000 after purchasing an additional 981 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Portola Pharmaceuticals by 12.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,695 shares of the biopharmaceutical company’s stock worth $126,000 after purchasing an additional 533 shares during the period. Finally, Aperio Group LLC bought a new position in shares of Portola Pharmaceuticals in the 2nd quarter worth approximately $152,000.

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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