The stock of Portola Pharmaceuticals Inc (NASDAQ:PTLA) hit a new 52-week low and has $16.13 target or 9.00% below today’s $17.73 share price. The 8 months bearish chart indicates high risk for the $1.01 billion company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $16.13 price target is reached, the company will be worth $90.90M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 3.22% or $0.59 during the last trading session, hitting $17.73. About 719,028 shares traded hands. Portola Pharmaceuticals Inc (NASDAQ:PTLA) has declined 10.20% since March 31, 2016 and is downtrending. It has underperformed by 12.72% the S&P500.
Analysts await Portola Pharmaceuticals Inc (NASDAQ:PTLA) to report earnings on November, 14. They expect $-1.11 earnings per share, down 5.71% or $0.06 from last year’s $-1.05 per share. After $-1.02 actual earnings per share reported by Portola Pharmaceuticals Inc for the previous quarter, Wall Street now forecasts 8.82% negative EPS growth.
Portola Pharmaceuticals Inc (NASDAQ:PTLA) Ratings Coverage
Out of 4 analysts covering Portola Pharmaceuticals (NASDAQ:PTLA), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Portola Pharmaceuticals has been the topic of 11 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was maintained by Morgan Stanley on Friday, August 19 with “Overweight”. The company was initiated on Friday, December 18 by Goldman Sachs. The stock of Portola Pharmaceuticals Inc (NASDAQ:PTLA) has “Buy” rating given on Wednesday, August 10 by Citigroup. Goldman Sachs downgraded the stock to “Neutral” rating in Monday, March 28 report. The company was downgraded on Friday, August 19 by Citigroup. Credit Suisse downgraded Portola Pharmaceuticals Inc (NASDAQ:PTLA) rating on Tuesday, May 31. Credit Suisse has “Neutral” rating and $30 price target. Citigroup maintained it with “Buy” rating and $36 target price in Friday, May 27 report. The rating was maintained by Cowen & Co with “Buy” on Wednesday, August 5. The firm earned “Neutral” rating on Friday, August 19 by Credit Suisse. As per Monday, March 28, the company rating was maintained by Credit Suisse.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment increased to 1.09 in Q2 2016. Its up 0.03, from 1.06 in 2016Q1. The ratio improved, as 26 funds sold all Portola Pharmaceuticals Inc shares owned while 43 reduced positions. 16 funds bought stakes while 59 increased positions. They now own 51.75 million shares or 1.93% less from 52.77 million shares in 2016Q1.
Amer Century Inc holds 42,743 shares or 0% of its portfolio. Tiaa Cref Inv Mgmt Ltd Llc accumulated 233,577 shares or 0% of the stock. Edge Wealth Management Ltd Liability Corporation reported 75 shares or 0% of all its holdings. Schwab Charles Invest Mngmt last reported 188,824 shares in the company. Voya Invest Management Limited holds 0.02% of its portfolio in Portola Pharmaceuticals Inc (NASDAQ:PTLA) for 414,606 shares. Principal Finance Group Inc accumulated 8,649 shares or 0% of the stock. Brown Brothers Harriman Co owns 77 shares or 0% of their US portfolio. Creative Planning holds 21,050 shares or 0% of its portfolio. Northern Tru last reported 0% of its portfolio in the stock. Macquarie Grp Inc Ltd owns 35,650 shares or 0% of their US portfolio. Price T Rowe Associates Md has 643,219 shares for 0% of their US portfolio. Tudor Inv Et Al last reported 24,761 shares in the company. Fisher Asset Limited Liability accumulated 82,737 shares or 0% of the stock. Los Angeles Capital Management Equity Rech has 0% invested in the company for 9,745 shares. Moreover, Princeton Alpha Mngmt Limited Partnership has 0.06% invested in Portola Pharmaceuticals Inc (NASDAQ:PTLA) for 13,247 shares.
More notable recent Portola Pharmaceuticals Inc (NASDAQ:PTLA) news were published by: Fool.com which released: “Why Portola Pharmaceuticals Inc Is Plunging Today” on August 18, 2016, also Nasdaq.com with their article: “Portola Pharmaceuticals is Now Oversold” published on October 31, 2016, Fool.com published: “Why Portola Pharmaceuticals, Inc. Increased 11.6% in April” on May 11, 2016. More interesting news about Portola Pharmaceuticals Inc (NASDAQ:PTLA) were released by: Fool.com and their article: “Why Portola Pharmaceuticals Inc’s Stock Is Bleeding Red Today” published on March 24, 2016 as well as Fool.com‘s news article titled: “Portola Pharmaceuticals: Does New Data Get It Back on Track?” with publication date: May 28, 2016.
PTLA Company Profile
Portola Pharmaceuticals, Inc., incorporated on September 2, 2003, is a biopharmaceutical company. The Firm is focused on the development and commercialization of therapeutics in the areas of thrombosis, other hematologic disorders and inflammation for patients who have limited or no approved treatment options. The Company’s two lead programs, Betrixaban and Andexanet alfa, address unmet medical needs in the area of thrombosis, or blood clots. The Company’s third product candidate is Cerdulatinib. The Company’s Syk is a mediator of immune response in various types of immune cells. The Firm has a program of highly selective Syk inhibitors, one of which is partnered with Ora Inc.
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