Fernwood Investment Management Lowers stake in Portola Pharmaceuticals Inc (PTLA)

Portola Pharmaceuticals Inc (PTLA) : Fernwood Investment Management reduced its stake in Portola Pharmaceuticals Inc by 5.42% during the most recent quarter end. The investment management company now holds a total of 194,852 shares of Portola Pharmaceuticals Inc which is valued at $4,623,838 after selling 11,159 shares in Portola Pharmaceuticals Inc , the firm said in a disclosure report filed with the SEC on May 10, 2016.Portola Pharmaceuticals Inc makes up approximately 4.67% of Fernwood Investment Management’s portfolio.

Other Hedge Funds, Including , Spot Trading L.l.c added PTLA to its portfolio by purchasing 5,430 company shares during the most recent quarter which is valued at $128,854. Portola Pharmaceuticals Inc makes up approx 0.02% of Spot Trading L.l.c’s portfolio. Jennison Associates sold out all of its stake in PTLA during the most recent quarter. The investment firm sold 858,523 shares of PTLA which is valued $18,715,801.American Century Companies Inc boosted its stake in PTLA in the latest quarter, The investment management firm added 10,580 additional shares and now holds a total of 63,305 shares of Portola Pharmaceuticals Inc which is valued at $1,380,049.Emerald Mutual Fund Advisers Trust boosted its stake in PTLA in the latest quarter, The investment management firm added 234,370 additional shares and now holds a total of 437,364 shares of Portola Pharmaceuticals Inc which is valued at $10,391,769. Portola Pharmaceuticals Inc makes up approx 0.58% of Emerald Mutual Fund Advisers Trust’s portfolio.

Portola Pharmaceuticals Inc opened for trading at $23.94 and hit $25.24 on the upside on Monday, eventually ending the session at $25.16, with a gain of 6.03% or 1.43 points. The heightened volatility saw the trading volume jump to 8,90,208 shares. Company has a market cap of $1,421 M.

On the company’s financial health, Portola Pharmaceuticals Inc reported $-1.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.18 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $-0.97. The company had revenue of $8.30 million for the quarter, compared to analysts expectations of $7.91 million. The company’s revenue was up 245.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.95 EPS.

Many Wall Street Analysts have commented on Portola Pharmaceuticals Inc. Shares were Downgraded by Goldman on Mar 28, 2016 to ” Neutral” and Lowered the Price Target to $ 30 from a previous price target of $65 .Shares were Reiterated by Credit Suisse on Mar 28, 2016 to “Outperform” and Lowered the Price Target to $ 34 from a previous price target of $47 .

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 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. Its third product candidate is Cerdulatinib. The Company has a program of selective Syk inhibitors which is partnered with Biogen Idec Inc. Betrixaban is an oral once-daily inhibitor of Factor Xa. Andexanet alfa is a recombinant protein designed to reverse the anticoagulant activity in patients treated with a Factor Xa inhibitor. Cerdulatinib is an orally available potent dual spleen tyrosine kinase (Syk) and janus kinase (JAK) inhibitor.

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