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

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Zacks Investment Research upgraded shares of Portola Pharmaceuticals (NASDAQ:PTLA) from a hold rating to a buy rating in a research note released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $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. “

PTLA has been the subject of a number of other reports. Credit Suisse Group began coverage on shares of LTC Properties in a research report on Wednesday, July 10th. They set an underperform rating and a $19.00 price target for the company. William Blair reissued an outperform rating on shares of Portola Pharmaceuticals in a research note on Monday, June 17th. BidaskClub lowered shares of ZIX from a strong-buy rating to a buy rating in a research note on Tuesday, May 21st. Oppenheimer set a $42.00 price objective on shares of Portola Pharmaceuticals and gave the company a buy rating in a research note on Friday, April 12th. 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 issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $40.71.

Shares of PTLA opened at $26.64 on Wednesday. Portola Pharmaceuticals has a 1-year low of $14.81 and a 1-year high of $42.17. The company’s 50-day moving average is $26.70. The company has a quick ratio of 4.77, a current ratio of 4.81 and a debt-to-equity ratio of 5.15.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.02). Portola Pharmaceuticals had a negative net margin of 618.46% and a negative return on equity of 238.48%. The business had revenue of $22.17 million during the quarter, compared to analysts’ expectations of $20.60 million. During the same period last year, the business earned ($1.28) earnings per share. The business’s revenue for the quarter was up 233.9% on a year-over-year basis. As a group, equities research analysts predict that Portola Pharmaceuticals will post -4.12 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Strs Ohio lifted its stake in Portola Pharmaceuticals by 1.3% in the first quarter. Strs Ohio now owns 45,600 shares of the biopharmaceutical company’s stock worth $1,582,000 after acquiring an additional 600 shares during the last quarter. Icon Wealth Partners LLC purchased a new position in Portola Pharmaceuticals in the first quarter worth approximately $26,000. FTB Advisors Inc. purchased a new position in Portola Pharmaceuticals in the first quarter worth approximately $33,000. Legal & General Group Plc lifted its stake in Portola Pharmaceuticals by 4.4% in the fourth quarter. Legal & General Group Plc now owns 25,219 shares of the biopharmaceutical company’s stock worth $492,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in Portola Pharmaceuticals by 50.7% in the first quarter. Bank of Montreal Can now owns 3,323 shares of the biopharmaceutical company’s stock worth $115,000 after acquiring an additional 1,118 shares during the last quarter.

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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