C WorldWide Group Holding A S raised its holdings in shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 51.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 223,682 shares of the biopharmaceutical company’s stock after purchasing an additional 76,095 shares during the period. C WorldWide Group Holding A S’s holdings in Portola Pharmaceuticals were worth $5,957,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of PTLA. SeaCrest Wealth Management LLC purchased a new stake in Portola Pharmaceuticals during the 2nd quarter valued at $191,000. BB&T Securities LLC purchased a new stake in Portola Pharmaceuticals during the 2nd quarter valued at $201,000. Smith Asset Management Group LP boosted its stake in Portola Pharmaceuticals by 51.1% during the 3rd quarter. Smith Asset Management Group LP now owns 8,100 shares of the biopharmaceutical company’s stock valued at $216,000 after purchasing an additional 2,740 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Portola Pharmaceuticals during the 2nd quarter valued at $230,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Portola Pharmaceuticals during the 2nd quarter valued at $234,000. Institutional investors and hedge funds own 94.47% of the company’s stock.
PTLA has been the topic of a number of research reports. Zacks Investment Research upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, October 11th. ValuEngine downgraded Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Oppenheimer set a $60.00 price target on Portola Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, September 10th. BidaskClub downgraded Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 22nd. Finally, William Blair restated a “buy” rating on shares of Portola Pharmaceuticals in a research note on Monday, August 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $48.29.
Portola Pharmaceuticals (NASDAQ:PTLA) last released its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported ($1.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.49) by ($0.12). The firm had revenue of $4.01 million during the quarter, compared to analysts’ expectations of $6.35 million. Portola Pharmaceuticals had a negative return on equity of 111.64% and a negative net margin of 1,503.29%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned ($1.22) earnings per share. On average, equities research analysts expect that Portola Pharmaceuticals Inc will post -5.84 earnings per share for the current fiscal year.
In related news, Director Jeffrey W. Bird bought 137,563 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were bought at an average cost of $25.17 per share, for a total transaction of $3,462,460.71. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey W. Bird bought 390,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were bought at an average price of $25.84 per share, for a total transaction of $10,077,600.00. The disclosure for this purchase can be found here. Company insiders own 4.60% of the company’s stock.
Portola Pharmaceuticals Company Profile
Portola Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics that could advance the fields of thrombosis and other hematologic diseases. The company's two FDA-approved medicines are Andexxa (coagulation factor Xa (recombinant), inactivated-zhzo), 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 VTE in adult patients hospitalized for an acute medical illness.
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