Vanguard Group Inc. boosted its stake in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,614,814 shares of the biopharmaceutical company’s stock after buying an additional 192,420 shares during the period. Vanguard Group Inc. owned approximately 8.16% of Portola Pharmaceuticals worth $180,855,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Mercantile Trust Co. purchased a new position in shares of Portola Pharmaceuticals during the first quarter valued at $165,000. Ameritas Investment Partners Inc. purchased a new position in shares of Portola Pharmaceuticals during the first quarter valued at $167,000. Fortaleza Asset Management Inc. purchased a new position in shares of Portola Pharmaceuticals during the first quarter valued at $193,000. Credit Agricole S A purchased a new position in shares of Portola Pharmaceuticals during the first quarter valued at $196,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Portola Pharmaceuticals during the first quarter valued at $330,000. 85.23% of the stock is owned by institutional investors.
Shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) opened at 63.24 on Tuesday. Portola Pharmaceuticals, Inc. has a 12 month low of $15.68 and a 12 month high of $64.15. The stock’s 50 day moving average is $40.65 and its 200 day moving average is $34.25. The stock’s market capitalization is $3.61 billion.
Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.46. The firm had revenue of $5.12 million for the quarter, compared to analyst estimates of $4.21 million. Portola Pharmaceuticals had a negative net margin of 759.21% and a negative return on equity of 106.68%. Portola Pharmaceuticals’s quarterly revenue was down 37.9% on a year-over-year basis. During the same period in the previous year, the business posted ($1.15) earnings per share. Analysts anticipate that Portola Pharmaceuticals, Inc. will post ($4.30) earnings per share for the current fiscal year.
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PTLA has been the subject of several research reports. Zacks Investment Research raised shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday. Oppenheimer Holdings, Inc. increased their price objective on shares of Portola Pharmaceuticals from $46.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 26th. Cowen and Company increased their price objective on shares of Portola Pharmaceuticals from $45.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, June 26th. Citigroup Inc. set a $51.00 price objective on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a report on Saturday, June 17th. Finally, BidaskClub raised shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Portola Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $60.52.
In related news, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $34.40, for a total transaction of $58,480,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Mardi Dier sold 23,350 shares of the business’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $60.00, for a total transaction of $1,401,000.00. The disclosure for this sale can be found here. Insiders have sold 2,273,844 shares of company stock worth $90,270,351 over the last 90 days. 4.90% of the stock is currently owned by company insiders.
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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