Portola Pharmaceuticals (PTLA) Shares Down 6.9%

Portola Pharmaceuticals Inc (NASDAQ:PTLA)’s share price fell 6.9% during trading on Wednesday . The company traded as low as $43.37 and last traded at $44.91. 2,754,886 shares traded hands during mid-day trading, an increase of 193% from the average session volume of 940,688 shares. The stock had previously closed at $48.22.

A number of brokerages have commented on PTLA. Morgan Stanley dropped their target price on shares of Portola Pharmaceuticals from $74.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday. Credit Suisse Group restated an “outperform” rating and issued a $53.00 target price (down from $68.00) on shares of Portola Pharmaceuticals in a research note on Wednesday. Oppenheimer set a $72.00 price objective on shares of Portola Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. Finally, BidaskClub downgraded shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Portola Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $65.52.

The company has a current ratio of 8.31, a quick ratio of 8.31 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $2,930.45, a P/E ratio of -10.42 and a beta of 1.18.

In other news, Director Henry Ward Wolff sold 12,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $47.00, for a total transaction of $564,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.50% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Portola Pharmaceuticals by 54.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,219 shares of the biopharmaceutical company’s stock valued at $157,000 after acquiring an additional 1,141 shares during the last quarter. Quantbot Technologies LP lifted its position in Portola Pharmaceuticals by 25.2% during the third quarter. Quantbot Technologies LP now owns 5,853 shares of the biopharmaceutical company’s stock valued at $316,000 after acquiring an additional 1,177 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in Portola Pharmaceuticals by 4.1% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 29,801 shares of the biopharmaceutical company’s stock valued at $1,451,000 after acquiring an additional 1,187 shares during the last quarter. California State Teachers Retirement System lifted its position in Portola Pharmaceuticals by 1.4% during the fourth quarter. California State Teachers Retirement System now owns 89,622 shares of the biopharmaceutical company’s stock valued at $4,363,000 after acquiring an additional 1,224 shares during the last quarter. Finally, Kazazian Asset Management LLC lifted its position in Portola Pharmaceuticals by 11.6% during the fourth quarter. Kazazian Asset Management LLC now owns 13,657 shares of the biopharmaceutical company’s stock valued at $665,000 after acquiring an additional 1,416 shares during the last quarter. 86.45% of the stock is owned by institutional investors.

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Portola Pharmaceuticals Company Profile

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 having 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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