Portola Pharmaceuticals (PTLA) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Portola Pharmaceuticals (NASDAQ:PTLA) from a hold rating to a sell rating in a report released on Saturday morning.

According to Zacks, “Portola Pharmaceuticals, Inc. is a biopharmaceutical company .It focuses on the development and commercialization of therapeutics for thrombosis, other hematologic disorders and inflammation. Portola Pharmaceuticals, Inc. is headquartered in South San Francisco, California. “

PTLA has been the topic of several other research reports. Oppenheimer set a $80.00 price objective on Portola Pharmaceuticals and gave the stock a buy rating in a research report on Sunday, May 6th. ValuEngine upgraded Portola Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, April 23rd. Credit Suisse Group reiterated an underperform rating and set a $28.00 price objective (down previously from $49.00) on shares of Portola Pharmaceuticals in a research report on Friday. Citigroup lowered their price objective on Portola Pharmaceuticals from $64.00 to $50.00 and set a buy rating on the stock in a research report on Friday. Finally, Cowen reiterated a buy rating on shares of Portola Pharmaceuticals in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Portola Pharmaceuticals currently has an average rating of Hold and an average target price of $53.80.

Portola Pharmaceuticals traded down $1.66, hitting $29.15, during trading hours on Friday, Marketbeat Ratings reports. 4,587,426 shares of the stock were exchanged, compared to its average volume of 1,199,834. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.59 and a quick ratio of 7.53. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -6.06 and a beta of 1.76. Portola Pharmaceuticals has a 12 month low of $28.22 and a 12 month high of $64.56.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported ($1.61) earnings per share for the quarter, missing the consensus estimate of ($1.49) by ($0.12). The firm had revenue of $4.01 million for the quarter, compared to the consensus estimate of $6.35 million. Portola Pharmaceuticals had a negative return on equity of 100.67% and a negative net margin of 1,503.29%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.22) EPS. research analysts expect that Portola Pharmaceuticals will post -5.33 EPS for the current year.

In other news, CEO William Lis sold 5,113 shares of the stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $45.21, for a total transaction of $231,158.73. Following the sale, the chief executive officer now directly owns 222,035 shares of the company’s stock, valued at approximately $10,038,202.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Portola Pharmaceuticals by 12.5% during the 2nd quarter. BlackRock Inc. now owns 5,251,512 shares of the biopharmaceutical company’s stock worth $198,351,000 after purchasing an additional 583,581 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of Portola Pharmaceuticals by 9.0% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 1,166,721 shares of the biopharmaceutical company’s stock worth $44,067,000 after purchasing an additional 96,777 shares in the last quarter. Fred Alger Management Inc. grew its holdings in shares of Portola Pharmaceuticals by 15.3% during the 2nd quarter. Fred Alger Management Inc. now owns 1,036,073 shares of the biopharmaceutical company’s stock worth $39,132,000 after purchasing an additional 137,434 shares in the last quarter. Zevenbergen Capital Investments LLC grew its holdings in shares of Portola Pharmaceuticals by 8.4% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 829,525 shares of the biopharmaceutical company’s stock worth $27,092,000 after purchasing an additional 64,050 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Portola Pharmaceuticals by 0.5% during the 1st quarter. Northern Trust Corp now owns 737,950 shares of the biopharmaceutical company’s stock worth $24,101,000 after purchasing an additional 3,880 shares in the last quarter. 86.12% of the stock is currently owned by institutional investors.

About Portola Pharmaceuticals

Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics in the areas of thrombosis, other hematologic disorders, and inflammation. The company is developing Betrixaban, an oral once-daily Factor Xa inhibitor for hospital and extended duration prophylaxis of venous thromboembolism in adults hospitalized for an acute medical illness; Andexanet alfa, a recombinant protein that is in Phase III study for reverse anticoagulant activity in patients treated with fXa inhibitor; and Cerdulatinib, a spleen tyrosine kinase inhibitor, which is in Phase IIa clinical stage to treat hematologic cancers.

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