Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) issued its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.10) by $0.12, Briefing.com reports. The business had revenue of $3.79 million for the quarter, compared to analysts’ expectations of $4.28 million. Portola Pharmaceuticals had a negative return on equity of 106.68% and a negative net margin of 759.21%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.02) EPS.
Portola Pharmaceuticals (NASDAQ:PTLA) traded down 7.29% during trading on Thursday, hitting $55.99. The stock had a trading volume of 495,443 shares. The firm’s market cap is $3.19 billion. The stock’s 50 day moving average price is $59.76 and its 200 day moving average price is $42.10. Portola Pharmaceuticals has a 12-month low of $15.68 and a 12-month high of $67.10.
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In related news, major shareholder (Mauritius) Pte Ltd Maxwell sold 1,700,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $34.40, for a total value of $58,480,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey W. Bird bought 119,442 shares of Portola Pharmaceuticals stock in a transaction that occurred on Thursday, June 1st. The stock was bought at an average cost of $31.85 per share, for a total transaction of $3,804,227.70. Following the purchase, the director now owns 3,000 shares in the company, valued at approximately $95,550. The disclosure for this purchase can be found here. Insiders have sold a total of 2,289,656 shares of company stock worth $91,298,131 in the last three months. Corporate insiders own 4.90% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Portola Pharmaceuticals by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,614,814 shares of the biopharmaceutical company’s stock worth $180,855,000 after buying an additional 192,420 shares during the last quarter. BlackRock Inc. raised its position in shares of Portola Pharmaceuticals by 68,964.1% in the first quarter. BlackRock Inc. now owns 4,034,725 shares of the biopharmaceutical company’s stock worth $158,121,000 after buying an additional 4,028,883 shares in the last quarter. FMR LLC raised its position in shares of Portola Pharmaceuticals by 5.6% in the first quarter. FMR LLC now owns 3,902,000 shares of the biopharmaceutical company’s stock worth $152,919,000 after buying an additional 205,751 shares in the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of Portola Pharmaceuticals during the second quarter worth $29,483,000. Finally, Geode Capital Management LLC raised its position in shares of Portola Pharmaceuticals by 9.4% in the first quarter. Geode Capital Management LLC now owns 481,732 shares of the biopharmaceutical company’s stock worth $18,879,000 after buying an additional 41,524 shares in the last quarter. 86.26% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the company. Oppenheimer Holdings, Inc. increased their price target on Portola Pharmaceuticals from $66.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. BidaskClub upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday, July 18th. Credit Suisse Group set a $70.00 price target on Portola Pharmaceuticals and gave the stock a “hold” rating in a research report on Thursday. They noted that the move was a valuation call. Finally, Cowen and Company increased their price target on Portola Pharmaceuticals from $45.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, June 26th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $63.77.
Portola Pharmaceuticals Company Profile
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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