Valley National Advisers Inc. lessened its holdings in Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 24.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,065 shares of the biopharmaceutical company’s stock after selling 981 shares during the period. Valley National Advisers Inc.’s holdings in Portola Pharmaceuticals were worth $106,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of PTLA. Norges Bank purchased a new position in shares of Portola Pharmaceuticals during the fourth quarter valued at about $11,465,000. Peregrine Capital Management LLC purchased a new position in shares of Portola Pharmaceuticals during the fourth quarter valued at about $10,626,000. Tamarack Advisers LP purchased a new position in shares of Portola Pharmaceuticals during the fourth quarter valued at about $7,808,000. Elk Creek Partners LLC purchased a new position in shares of Portola Pharmaceuticals during the fourth quarter valued at about $7,375,000. Finally, Foresite Capital Management IV LLC purchased a new position in shares of Portola Pharmaceuticals during the fourth quarter valued at about $4,880,000.
Shares of NASDAQ:PTLA traded down $0.27 during trading on Wednesday, reaching $28.81. The company’s stock had a trading volume of 939,100 shares, compared to its average volume of 1,338,703. The company has a current ratio of 4.81, a quick ratio of 4.77 and a debt-to-equity ratio of 5.15. Portola Pharmaceuticals Inc has a 12 month low of $14.81 and a 12 month high of $45.60. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -5.75 and a beta of 2.35.
Portola Pharmaceuticals (NASDAQ:PTLA) last announced its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.02) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($1.02). The business had revenue of $22.17 million during the quarter, compared to the consensus estimate of $20.60 million. Portola Pharmaceuticals had a negative net margin of 618.46% and a negative return on equity of 238.48%. The firm’s quarterly revenue was up 233.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.28) earnings per share. As a group, equities analysts forecast that Portola Pharmaceuticals Inc will post -4.13 EPS for the current year.
In other news, CFO Mardi Dier sold 40,486 shares of Portola Pharmaceuticals stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $37.39, for a total transaction of $1,513,771.54. Following the completion of the sale, the chief financial officer now owns 66,733 shares of the company’s stock, valued at $2,495,146.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hollings Renton sold 5,000 shares of Portola Pharmaceuticals stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $34.45, for a total transaction of $172,250.00. Following the sale, the director now directly owns 14,000 shares of the company’s stock, valued at approximately $482,300. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.
A number of brokerages have recently weighed in on PTLA. BidaskClub upgraded Portola Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 4th. Zacks Investment Research upgraded Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Thursday, April 4th. Oppenheimer set a $42.00 price objective on Portola Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, ValuEngine downgraded shares of Portola Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Portola Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $42.29.
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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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