Portola Pharmaceuticals (NASDAQ:PTLA) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Portola Pharmaceuticals (NASDAQ:PTLA) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. They currently have $29.00 price objective on the biopharmaceutical company’s stock.

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. “

A number of other brokerages also recently weighed in on PTLA. ValuEngine downgraded Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. William Blair reissued an outperform rating on shares of Portola Pharmaceuticals in a research note on Monday, June 17th. Credit Suisse Group assumed coverage on LTC Properties in a research note on Wednesday, July 10th. They issued an underperform rating and a $19.00 price objective on the stock. BidaskClub downgraded ZIX from a strong-buy rating to a buy rating in a research note on Tuesday, May 21st. Finally, Cowen reissued a buy rating and issued a $149.00 price objective on shares of Intercept Pharmaceuticals in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $40.71.

Shares of Portola Pharmaceuticals stock opened at $26.64 on Wednesday. The firm’s 50-day moving average price is $26.70. The company has a debt-to-equity ratio of 5.15, a current ratio of 4.81 and a quick ratio of 4.77. Portola Pharmaceuticals has a 52-week low of $14.81 and a 52-week high of $42.17.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.02) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($1.02). Portola Pharmaceuticals had a negative return on equity of 238.48% and a negative net margin of 618.46%. The business had revenue of $22.17 million for the quarter, compared to the consensus estimate of $20.60 million. During the same period last year, the business earned ($1.28) EPS. The firm’s revenue was up 233.9% compared to the same quarter last year. Equities analysts expect that Portola Pharmaceuticals will post -4.12 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Portola Pharmaceuticals by 0.4% during the 4th quarter. BlackRock Inc. now owns 5,326,939 shares of the biopharmaceutical company’s stock worth $103,982,000 after acquiring an additional 19,532 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Portola Pharmaceuticals by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 730,249 shares of the biopharmaceutical company’s stock worth $14,254,000 after acquiring an additional 33,734 shares in the last quarter. Two Sigma Investments LP acquired a new position in Portola Pharmaceuticals during the 4th quarter valued at approximately $2,137,000. Bank of America Corp DE increased its stake in Portola Pharmaceuticals by 38.6% during the 4th quarter. Bank of America Corp DE now owns 252,260 shares of the biopharmaceutical company’s stock valued at $4,925,000 after purchasing an additional 70,196 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Portola Pharmaceuticals during the 4th quarter valued at approximately $205,000.

About Portola Pharmaceuticals

Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes novel therapeutics in the areas of thrombosis and other hematologic disorders and inflammation in the United States. The company offers Andexxa, an antidote for patients treated with rivaroxaban and apixaban when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding; and Bevyxxa (betrixaban), an oral, once-daily Factor Xa inhibitor for the prevention of venous thromboembolism in adult patients hospitalized for an acute medical illness.

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