ValuEngine Downgrades Portola Pharmaceuticals (PTLA) to Sell

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

Other analysts have also recently issued research reports about the stock. Citigroup dropped their price objective on shares of Portola Pharmaceuticals from $64.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, August 10th. Oppenheimer set a $70.00 price objective on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 9th. Cowen reaffirmed a “buy” rating on shares of Portola Pharmaceuticals in a research note on Thursday, August 9th. William Blair reaffirmed a “buy” rating on shares of Portola Pharmaceuticals in a research note on Monday, August 27th. Finally, Morgan Stanley dropped their price objective on shares of Portola Pharmaceuticals from $45.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, August 13th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $52.17.

Shares of NASDAQ PTLA opened at $24.20 on Friday. Portola Pharmaceuticals has a 12-month low of $23.75 and a 12-month high of $56.70. The stock has a market cap of $1.76 billion, a P/E ratio of -5.03 and a beta of 1.64. The company has a debt-to-equity ratio of 0.91, a current ratio of 6.69 and a quick ratio of 6.59.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported ($1.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.49) by ($0.12). Portola Pharmaceuticals had a negative net margin of 1,503.29% and a negative return on equity of 111.64%. The business had revenue of $4.01 million for the quarter, compared to analysts’ expectations of $6.35 million. During the same period in the prior year, the company posted ($1.22) EPS. The firm’s revenue was up 5.8% on a year-over-year basis. As a group, equities analysts forecast that Portola Pharmaceuticals will post -5.77 earnings per share for the current year.

In other news, Director Jeffrey W. Bird purchased 390,000 shares of the company’s stock in a transaction dated Thursday, August 23rd. The stock was acquired at an average price of $25.84 per share, with a total value of $10,077,600.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey W. Bird purchased 137,563 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was purchased at an average cost of $25.17 per share, with a total value of $3,462,460.71. The disclosure for this purchase can be found here. Corporate insiders own 4.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of PTLA. SG Americas Securities LLC purchased a new stake in shares of Portola Pharmaceuticals in the 1st quarter valued at approximately $128,000. Schwab Charles Investment Management Inc. grew its stake in shares of Portola Pharmaceuticals by 4.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 307,613 shares of the biopharmaceutical company’s stock valued at $10,047,000 after buying an additional 12,171 shares during the period. Northern Trust Corp grew its stake in shares of Portola Pharmaceuticals by 0.5% in the 1st quarter. Northern Trust Corp now owns 737,950 shares of the biopharmaceutical company’s stock valued at $24,101,000 after buying an additional 3,880 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Portola Pharmaceuticals by 3.1% in the 1st quarter. JPMorgan Chase & Co. now owns 670,274 shares of the biopharmaceutical company’s stock valued at $21,891,000 after buying an additional 20,010 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Portola Pharmaceuticals by 1,002.8% in the 1st quarter. Russell Investments Group Ltd. now owns 76,852 shares of the biopharmaceutical company’s stock valued at $2,510,000 after buying an additional 69,883 shares during the period. 94.25% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Portola Pharmaceuticals (NASDAQ:PTLA)

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