Analysts expect Portola Pharmaceuticals Inc (NASDAQ:PTLA) to post earnings per share of ($0.73) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Portola Pharmaceuticals’ earnings. The highest EPS estimate is ($0.69) and the lowest is ($0.79). Portola Pharmaceuticals reported earnings per share of ($1.04) during the same quarter last year, which suggests a positive year-over-year growth rate of 29.8%. The company is scheduled to issue its next quarterly earnings report on Friday, March 6th.
On average, analysts expect that Portola Pharmaceuticals will report full year earnings of ($3.54) per share for the current fiscal year, with EPS estimates ranging from ($3.57) to ($3.50). For the next financial year, analysts forecast that the company will report earnings of ($2.51) per share, with EPS estimates ranging from ($2.77) to ($2.35). Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Portola Pharmaceuticals.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.14. The business had revenue of $36.80 million for the quarter, compared to analysts’ expectations of $34.64 million. Portola Pharmaceuticals had a negative net margin of 275.13% and a negative return on equity of 282.04%. The company’s quarterly revenue was up 159.2% on a year-over-year basis. During the same period in the previous year, the company posted ($1.08) EPS.
A number of research firms recently weighed in on PTLA. ValuEngine upgraded shares of Portola Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Thursday. Citigroup lowered their price objective on shares of Portola Pharmaceuticals from $51.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Goldman Sachs Group began coverage on shares of Portola Pharmaceuticals in a research report on Friday, November 8th. They issued a “neutral” rating and a $35.00 price objective on the stock. Cowen reiterated a “buy” rating and issued a $45.00 price objective on shares of Portola Pharmaceuticals in a research report on Tuesday, November 5th. Finally, BidaskClub lowered shares of Portola Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.75.
In related news, Director Hollings Renton sold 5,000 shares of Portola Pharmaceuticals 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 transaction, the director now directly owns 18,194 shares in the company, valued at approximately $545,820. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PTLA. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Portola Pharmaceuticals by 45.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 18,310 shares of the biopharmaceutical company’s stock worth $497,000 after purchasing an additional 5,700 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Portola Pharmaceuticals by 16.6% during the 2nd quarter. Fisher Asset Management LLC now owns 100,722 shares of the biopharmaceutical company’s stock worth $2,733,000 after buying an additional 14,338 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Portola Pharmaceuticals during the 2nd quarter worth $3,110,000. Aperio Group LLC acquired a new position in shares of Portola Pharmaceuticals during the 2nd quarter worth $152,000. Finally, J. L. Bainbridge & Co. Inc. acquired a new position in shares of Portola Pharmaceuticals during the 2nd quarter worth $202,000.
NASDAQ:PTLA traded down $0.59 during midday trading on Friday, reaching $26.31. The stock had a trading volume of 703,938 shares, compared to its average volume of 1,112,036. The firm has a fifty day simple moving average of $28.64 and a two-hundred day simple moving average of $27.97. Portola Pharmaceuticals has a 12-month low of $14.81 and a 12-month high of $37.95. The company has a quick ratio of 5.85, a current ratio of 5.88 and a debt-to-equity ratio of 1.25. The stock has a market cap of $2.11 billion, a P/E ratio of -5.25 and a beta of 2.06.
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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