Tocqueville Asset Management L.P. Trims Stake in Portola Pharmaceuticals Inc (PTLA)

Tocqueville Asset Management L.P. lessened its holdings in shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 21.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 476,745 shares of the biopharmaceutical company’s stock after selling 128,840 shares during the period. Tocqueville Asset Management L.P. owned about 0.70% of Portola Pharmaceuticals worth $16,543,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Norges Bank purchased a new position in shares of Portola Pharmaceuticals during the 4th quarter worth approximately $11,465,000. Peregrine Capital Management LLC purchased a new position in shares of Portola Pharmaceuticals during the 4th quarter worth approximately $10,626,000. Tamarack Advisers LP bought a new stake in shares of Portola Pharmaceuticals in the 4th quarter worth approximately $7,808,000. Elk Creek Partners LLC bought a new stake in shares of Portola Pharmaceuticals in the 4th quarter worth approximately $7,375,000. Finally, Foresite Capital Management IV LLC bought a new stake in shares of Portola Pharmaceuticals in the 4th quarter worth approximately $4,880,000.

In other Portola Pharmaceuticals news, Director Hollings Renton sold 5,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $34.45, for a total value of $172,250.00. Following the completion of the sale, the director now owns 14,000 shares in the company, valued at approximately $482,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mardi Dier sold 40,486 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $37.39, for a total value 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 approximately $2,495,146.87. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.

A number of analysts have recently commented on the company. ValuEngine raised Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. BidaskClub raised Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, February 20th. Zacks Investment Research raised Portola Pharmaceuticals from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Thursday, April 25th. Oppenheimer set a $30.00 price objective on Portola Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, February 8th. Finally, Cowen reaffirmed a “buy” rating on shares of Portola Pharmaceuticals in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Portola Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $42.29.

Shares of NASDAQ PTLA traded up $0.96 during midday trading on Friday, hitting $30.44. 557,007 shares of the stock traded hands, compared to its average volume of 1,333,531. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -6.08 and a beta of 2.35. The company has a debt-to-equity ratio of 5.15, a current ratio of 4.81 and a quick ratio of 4.77. Portola Pharmaceuticals Inc has a one year low of $14.81 and a one year high of $45.60.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.02) EPS for the quarter, hitting the consensus estimate of ($1.02). The firm had revenue of $22.17 million during the quarter, compared to analyst estimates of $20.60 million. Portola Pharmaceuticals had a negative return on equity of 238.48% and a negative net margin of 618.46%. Portola Pharmaceuticals’s revenue was up 233.9% on a year-over-year basis. During the same period in the prior year, the business posted ($1.28) EPS. Equities research analysts anticipate that Portola Pharmaceuticals Inc will post -4.13 EPS for the current year.

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Portola Pharmaceuticals 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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Institutional Ownership by Quarter for Portola Pharmaceuticals (NASDAQ:PTLA)

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