Portola Pharmaceuticals Inc. (PTLA) Trading Down 2.2%

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Portola Pharmaceuticals Inc. (NASDAQ:PTLA) shares were down 2.2% during trading on Monday . The stock traded as low as $22.68 and last traded at $23.07, with a volume of 790,845 shares. The stock had previously closed at $23.60.
Several research analysts have recently commented on PTLA shares. Citigroup Inc. lowered shares of Portola Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $40.00 to $24.00 in a research note on Friday, August 19th. Zacks Investment Research upgraded shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, July 7th. Morgan Stanley dropped their price target on shares of Portola Pharmaceuticals from $61.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, August 19th. Credit Suisse Group AG dropped their price target on shares of Portola Pharmaceuticals from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 19th. Finally, Cowen and Company reiterated a “buy” rating on shares of Portola Pharmaceuticals in a research note on Thursday, August 18th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Portola Pharmaceuticals presently has an average rating of “Buy” and an average price target of $32.64.
The stock’s 50-day moving average price is $23.24 and its 200-day moving average price is $24.48. The stock’s market cap is $1.30 billion.

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Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.20) by $0.18. Portola Pharmaceuticals had a negative net margin of 1,229.26% and a negative return on equity of 67.16%. The firm had revenue of $4.23 million for the quarter, compared to analyst estimates of $4.38 million. During the same quarter in the previous year, the firm posted ($1.12) earnings per share. The business’s revenue was up 75.0% on a year-over-year basis. Equities research analysts anticipate that Portola Pharmaceuticals Inc. will post ($4.38) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in PTLA. IFP Advisors Inc raised its position in shares of Portola Pharmaceuticals by 2.0% in the second quarter. IFP Advisors Inc now owns 4,318 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 83 shares during the last quarter. BlackRock Inc. raised its position in shares of Portola Pharmaceuticals by 59.5% in the second quarter. BlackRock Inc. now owns 5,257 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 1,962 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Portola Pharmaceuticals by 16.9% in the second quarter. Teacher Retirement System of Texas now owns 7,889 shares of the biopharmaceutical company’s stock worth $186,000 after buying an additional 1,140 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Portola Pharmaceuticals during the second quarter worth $204,000. Finally, Affinity Investment Advisors LLC bought a new position in shares of Portola Pharmaceuticals during the second quarter worth $226,000. 92.04% of the stock is currently owned by hedge funds and other institutional investors.
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 who have 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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