JPMorgan Chase & Co. Increases Position in Portola Pharmaceuticals Inc (PTLA)

JPMorgan Chase & Co. boosted its stake in shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 744,702 shares of the biopharmaceutical company’s stock after purchasing an additional 26,544 shares during the period. JPMorgan Chase & Co. owned about 1.29% of Portola Pharmaceuticals worth $40,081,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Portola Pharmaceuticals by 0.9% during the second quarter. BlackRock Inc. now owns 4,071,966 shares of the biopharmaceutical company’s stock valued at $228,721,000 after purchasing an additional 37,241 shares in the last quarter. State Street Corp lifted its position in Portola Pharmaceuticals by 5.3% during the second quarter. State Street Corp now owns 2,085,838 shares of the biopharmaceutical company’s stock valued at $117,164,000 after purchasing an additional 105,207 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its position in Portola Pharmaceuticals by 38.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 727,812 shares of the biopharmaceutical company’s stock valued at $39,324,000 after purchasing an additional 202,925 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Portola Pharmaceuticals by 17.2% during the second quarter. Goldman Sachs Group Inc. now owns 688,092 shares of the biopharmaceutical company’s stock valued at $38,650,000 after purchasing an additional 101,046 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Portola Pharmaceuticals by 3.2% during the second quarter. Northern Trust Corp now owns 635,998 shares of the biopharmaceutical company’s stock valued at $35,724,000 after purchasing an additional 19,719 shares in the last quarter. Institutional investors own 87.25% of the company’s stock.

In other Portola Pharmaceuticals news, Director Henry Ward Wolff sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $47.00, for a total transaction of $564,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Several equities analysts have recently commented on PTLA shares. Oppenheimer restated a “buy” rating and issued a $80.00 price objective on shares of Portola Pharmaceuticals in a research report on Wednesday, September 6th. BidaskClub upgraded Portola Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 21st. Goldman Sachs Group started coverage on Portola Pharmaceuticals in a research report on Friday, December 1st. They issued a “buy” rating and a $75.00 price objective on the stock. Morgan Stanley restated an “overweight” rating and issued a $81.00 price objective (up from $75.00) on shares of Portola Pharmaceuticals in a research report on Friday, October 6th. Finally, Citigroup restated a “buy” rating and issued a $74.00 price objective on shares of Portola Pharmaceuticals in a research report on Thursday, December 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $70.65.

Shares of Portola Pharmaceuticals Inc (NASDAQ PTLA) traded up $0.08 during mid-day trading on Tuesday, hitting $48.76. The stock had a trading volume of 1,815,200 shares, compared to its average volume of 918,110. The company has a quick ratio of 8.31, a current ratio of 8.31 and a debt-to-equity ratio of 0.24. Portola Pharmaceuticals Inc has a 1 year low of $22.20 and a 1 year high of $67.10. The company has a market capitalization of $3,180.00, a PE ratio of -11.29 and a beta of 1.21.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($1.41) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.49) by $0.08. Portola Pharmaceuticals had a negative return on equity of 110.46% and a negative net margin of 938.19%. The company had revenue of $3.83 million for the quarter, compared to analysts’ expectations of $4.71 million. During the same period in the previous year, the firm posted ($1.64) earnings per share. The firm’s revenue for the quarter was down 58.9% on a year-over-year basis. research analysts forecast that Portola Pharmaceuticals Inc will post -4.94 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “JPMorgan Chase & Co. Increases Position in Portola Pharmaceuticals Inc (PTLA)” was reported by TrueBlueTribune and is owned by of TrueBlueTribune. If you are viewing this article on another domain, it was illegally copied and republished in violation of international copyright legislation. The correct version of this article can be accessed at https://www.truebluetribune.com/2018/01/03/portola-pharmaceuticals-inc-ptla-shares-bought-by-jpmorgan-chase-co.html.

About Portola Pharmaceuticals

Portola Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics in the areas of thrombosis, other hematologic disorders and inflammation for patients having 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.

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

Receive News & Ratings for Portola Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Portola Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply