Portola Pharmaceuticals Inc (PTLA) Expected to Announce Earnings of -$1.52 Per Share

Wall Street analysts forecast that Portola Pharmaceuticals Inc (NASDAQ:PTLA) will post earnings of ($1.52) per share for the current quarter, according to Zacks. Two analysts have issued estimates for Portola Pharmaceuticals’ earnings. The highest EPS estimate is ($1.37) and the lowest is ($1.67). Portola Pharmaceuticals posted earnings per share of ($0.95) in the same quarter last year, which would indicate a negative year over year growth rate of 60%. The business is expected to report its next quarterly earnings report on Tuesday, February 27th.

On average, analysts expect that Portola Pharmaceuticals will report full year earnings of ($4.94) per share for the current financial year, with EPS estimates ranging from ($5.15) to ($4.65). For the next financial year, analysts expect that the company will report earnings of ($3.45) per share, with EPS estimates ranging from ($4.74) to ($2.66). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Portola Pharmaceuticals.

Portola Pharmaceuticals (NASDAQ:PTLA) last issued its quarterly earnings results on Monday, November 6th. The biopharmaceutical company reported ($1.41) EPS for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.08. The company had revenue of $3.83 million for the quarter, compared to analyst estimates of $4.71 million. Portola Pharmaceuticals had a negative return on equity of 110.46% and a negative net margin of 938.19%. The company’s quarterly revenue was down 58.9% compared to the same quarter last year. During the same period last year, the company earned ($1.64) earnings per share.

A number of brokerages have recently commented on PTLA. Oppenheimer set a $80.00 price target on Portola Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday. BidaskClub lowered Portola Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Thursday, December 7th. Goldman Sachs Group began coverage on Portola Pharmaceuticals in a report on Friday, December 1st. They set a “buy” rating and a $75.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and set a $81.00 price target (up from $75.00) on shares of Portola Pharmaceuticals in a report on Friday, October 6th. Finally, Credit Suisse Group raised Portola Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $70.00 price target on the stock in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. Portola Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $71.15.

A number of large investors have recently added to or reduced their stakes in the stock. Hanseatic Management Services Inc. grew its holdings in Portola Pharmaceuticals by 0.3% during the second quarter. Hanseatic Management Services Inc. now owns 22,800 shares of the biopharmaceutical company’s stock worth $1,281,000 after acquiring an additional 70 shares during the period. IFP Advisors Inc grew its holdings in Portola Pharmaceuticals by 7.7% during the second quarter. IFP Advisors Inc now owns 2,370 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 170 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Portola Pharmaceuticals by 14.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock valued at $117,000 after purchasing an additional 258 shares during the period. Amalgamated Bank boosted its position in shares of Portola Pharmaceuticals by 5.4% in the 2nd quarter. Amalgamated Bank now owns 6,376 shares of the biopharmaceutical company’s stock valued at $358,000 after purchasing an additional 328 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Portola Pharmaceuticals by 0.6% in the 2nd quarter. Principal Financial Group Inc. now owns 62,693 shares of the biopharmaceutical company’s stock valued at $3,521,000 after purchasing an additional 371 shares during the period. 87.45% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Portola Pharmaceuticals (NASDAQ PTLA) traded down $0.53 on Friday, hitting $47.02. The stock had a trading volume of 1,669,458 shares, compared to its average volume of 646,193. The company has a current ratio of 8.31, a quick ratio of 8.31 and a debt-to-equity ratio of 0.24. Portola Pharmaceuticals has a 52 week low of $18.30 and a 52 week high of $67.10.

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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.

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Earnings History and Estimates for Portola Pharmaceuticals (NASDAQ:PTLA)

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