Equities analysts expect Portola Pharmaceuticals Inc (NASDAQ:PTLA) to post sales of $41.79 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Portola Pharmaceuticals’ earnings. The lowest sales estimate is $40.37 million and the highest is $43.20 million. Portola Pharmaceuticals posted sales of $15.30 million during the same quarter last year, which suggests a positive year over year growth rate of 173.1%. The firm is expected to report its next earnings results on Friday, March 6th.
According to Zacks, analysts expect that Portola Pharmaceuticals will report full-year sales of $130.71 million for the current year, with estimates ranging from $127.60 million to $133.94 million. For the next fiscal year, analysts forecast that the firm will post sales of $237.79 million, with estimates ranging from $181.11 million to $266.20 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Portola Pharmaceuticals.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.82) by $0.14. Portola Pharmaceuticals had a negative net margin of 275.13% and a negative return on equity of 282.04%. The firm had revenue of $36.80 million for the quarter, compared to the consensus estimate of $34.64 million. During the same period in the prior year, the firm posted ($1.08) earnings per share. The firm’s quarterly revenue was up 159.2% compared to the same quarter last year.
Several equities analysts have issued reports on PTLA shares. Credit Suisse Group reaffirmed a “neutral” rating and set a $35.00 price objective on shares of Portola Pharmaceuticals in a report on Monday, August 5th. Citigroup decreased their price objective on shares of Portola Pharmaceuticals from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. William Blair reaffirmed a “buy” rating on shares of Portola Pharmaceuticals in a report on Friday, August 9th. Goldman Sachs Group started coverage on shares of Portola Pharmaceuticals in a report on Friday, November 8th. They set a “neutral” rating and a $35.00 price objective on the stock. Finally, Cowen reaffirmed a “buy” rating and set a $45.00 price objective on shares of Portola Pharmaceuticals in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $38.75.
PTLA traded up $0.84 during midday trading on Monday, hitting $28.05. 615,100 shares of the company traded hands, compared to its average volume of 1,137,151. The company has a current ratio of 5.88, a quick ratio of 5.85 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of -5.60 and a beta of 2.08. Portola Pharmaceuticals has a 52-week low of $14.81 and a 52-week high of $37.95. The business has a 50 day simple moving average of $27.94 and a two-hundred day simple moving average of $28.37.
In other Portola Pharmaceuticals news, Director Hollings Renton sold 5,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. Following the transaction, the director now directly owns 18,194 shares of the company’s stock, valued at $545,820. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Tamarack Advisers LP raised its position in shares of Portola Pharmaceuticals by 80.2% in the third quarter. Tamarack Advisers LP now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $26,820,000 after buying an additional 445,000 shares during the last quarter. Welch Group LLC acquired a new stake in shares of Portola Pharmaceuticals in the third quarter valued at about $335,000. Boston Advisors LLC acquired a new stake in shares of Portola Pharmaceuticals in the third quarter valued at about $476,000. Tower Research Capital LLC TRC acquired a new stake in shares of Portola Pharmaceuticals in the third quarter valued at about $42,000. Finally, GW&K Investment Management LLC raised its position in shares of Portola Pharmaceuticals by 41.6% in the third quarter. GW&K Investment Management LLC now owns 177,769 shares of the biopharmaceutical company’s stock valued at $4,768,000 after buying an additional 52,248 shares during the last quarter. Institutional investors and hedge funds own 95.39% of the company’s stock.
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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