Zacks: Analysts Anticipate Portola Pharmaceuticals Inc (NASDAQ:PTLA) Will Announce Quarterly Sales of $28.96 Million

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Brokerages forecast that Portola Pharmaceuticals Inc (NASDAQ:PTLA) will announce sales of $28.96 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Portola Pharmaceuticals’ earnings, with estimates ranging from $28.91 million to $29.00 million. Portola Pharmaceuticals reported sales of $15.30 million in the same quarter last year, which indicates a positive year-over-year growth rate of 89.3%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, February 26th.

According to Zacks, analysts expect that Portola Pharmaceuticals will report full year sales of $116.26 million for the current financial year, with estimates ranging from $116.22 million to $116.30 million. For the next fiscal year, analysts forecast that the company will post sales of $192.22 million, with estimates ranging from $165.35 million to $230.88 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Portola Pharmaceuticals.

Several analysts have commented on PTLA shares. BidaskClub downgraded shares of Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 31st. Goldman Sachs Group started coverage on shares of Portola Pharmaceuticals in a report on Friday, November 8th. They set a “neutral” rating and a $35.00 target price on the stock. ValuEngine upgraded shares of Portola Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Cowen dropped their target price on shares of Portola Pharmaceuticals from $45.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, Zacks Investment Research upgraded shares of Portola Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Portola Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $34.38.

Several large investors have recently added to or reduced their stakes in PTLA. Pictet Asset Management Ltd. grew its stake in shares of Portola Pharmaceuticals by 581.7% in the fourth quarter. Pictet Asset Management Ltd. now owns 864,456 shares of the biopharmaceutical company’s stock valued at $20,643,000 after buying an additional 737,656 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in shares of Portola Pharmaceuticals in the fourth quarter valued at $14,981,000. Tamarack Advisers LP grew its stake in shares of Portola Pharmaceuticals by 80.2% in the third quarter. Tamarack Advisers LP now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $26,820,000 after buying an additional 445,000 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Portola Pharmaceuticals by 5.7% in the fourth quarter. William Blair Investment Management LLC now owns 7,249,072 shares of the biopharmaceutical company’s stock valued at $173,108,000 after buying an additional 390,131 shares in the last quarter. Finally, Parkman Healthcare Partners LLC bought a new position in shares of Portola Pharmaceuticals in the fourth quarter valued at $6,579,000.

Shares of NASDAQ:PTLA traded up $0.04 during mid-day trading on Friday, reaching $13.51. The stock had a trading volume of 1,058,341 shares, compared to its average volume of 1,970,423. The firm has a market cap of $1.06 billion, a PE ratio of -3.26 and a beta of 2.12. The firm has a 50 day simple moving average of $15.40 and a two-hundred day simple moving average of $24.94. The company has a current ratio of 5.88, a quick ratio of 5.85 and a debt-to-equity ratio of 1.25. Portola Pharmaceuticals has a twelve month low of $12.62 and a twelve month high of $37.95.

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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