Sector Gamma AS decreased its holdings in shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 38.2% in the third quarter, Holdings Channel reports. The firm owned 125,925 shares of the biopharmaceutical company’s stock after selling 78,000 shares during the quarter. Sector Gamma AS’s holdings in Portola Pharmaceuticals were worth $3,377,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in PTLA. William Blair Investment Management LLC lifted its stake in Portola Pharmaceuticals by 20.3% during the second quarter. William Blair Investment Management LLC now owns 4,997,224 shares of the biopharmaceutical company’s stock worth $135,575,000 after purchasing an additional 842,354 shares during the period. Asymmetry Capital Management L.P. lifted its stake in Portola Pharmaceuticals by 185.9% during the second quarter. Asymmetry Capital Management L.P. now owns 525,730 shares of the biopharmaceutical company’s stock worth $14,263,000 after purchasing an additional 341,828 shares during the period. Morgan Stanley lifted its stake in Portola Pharmaceuticals by 162.6% during the second quarter. Morgan Stanley now owns 470,308 shares of the biopharmaceutical company’s stock worth $12,759,000 after purchasing an additional 291,180 shares during the period. Nuveen Asset Management LLC bought a new position in Portola Pharmaceuticals during the second quarter worth about $6,941,000. Finally, BlackRock Inc. lifted its stake in Portola Pharmaceuticals by 3.6% during the second quarter. BlackRock Inc. now owns 5,324,948 shares of the biopharmaceutical company’s stock worth $144,466,000 after purchasing an additional 186,304 shares during the period.
In other news, Director Hollings Renton sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $30.00, for a total value of $150,000.00. Following the completion of the transaction, the director now owns 18,194 shares of the company’s stock, valued at approximately $545,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.50% of the stock is owned by insiders.
A number of research analysts have commented on the stock. ValuEngine cut shares of Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Monday, October 21st. William Blair restated a “buy” rating on shares of Portola Pharmaceuticals in a research note on Friday, August 9th. Credit Suisse Group reiterated a “neutral” rating and issued a $35.00 target price on shares of Portola Pharmaceuticals in a research note on Monday, August 5th. Cowen reiterated a “buy” rating and issued a $45.00 target price on shares of Portola Pharmaceuticals in a research note on Tuesday, November 5th. Finally, BidaskClub upgraded shares of Portola Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Portola Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $38.75.
Shares of NASDAQ:PTLA traded up $0.07 during trading on Friday, reaching $28.45. The stock had a trading volume of 926,800 shares, compared to its average volume of 1,150,857. Portola Pharmaceuticals Inc has a 52 week low of $14.81 and a 52 week high of $37.95. The stock has a market capitalization of $2.08 billion, a PE ratio of -5.68 and a beta of 2.08. The company has a debt-to-equity ratio of 453.47, a current ratio of 3.63 and a quick ratio of 3.61. The business’s 50-day moving average price is $28.18 and its 200 day moving average price is $28.74.
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, beating the 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 529.08%. The company had revenue of $36.80 million during the quarter, compared to analyst estimates of $34.64 million. During the same quarter in the previous year, the business earned ($1.08) EPS. The firm’s revenue was up 159.2% on a year-over-year basis. Analysts forecast that Portola Pharmaceuticals Inc will post -3.77 EPS for the current year.
Portola Pharmaceuticals Company Profile
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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