Portola Pharmaceuticals Inc (PTLA) is Downgraded by Credit Suisse to Neutral, Lowers Price Target to $ 30

Portola Pharmaceuticals Inc (PTLA) was Downgraded by Credit Suisse to ” Neutral” while Lowering the Price Target of the company shares to $ 30 from a previous price target of $33 . Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on May 31, 2016.

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 .

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.

Portola Pharmaceuticals Inc opened for trading at $27.93 and hit $27.98 on the upside on Friday, eventually ending the session at $27.5, with a gain of 4.60% or 1.21 points. The heightened volatility saw the trading volume jump to 15,49,629 shares. Company has a market cap of $1,553 M.

In a different news, on May 3, 2016, William Lis (Chief Executive Officer) sold 5,675 shares at $23.86 per share price. According to the SEC, on Sep 21, 2015, Mardi Dier (Executive VP and CFO) sold 8,912 shares at $55.00 per share price. On Sep 18, 2015, Charles J Homcy (director) sold 40,067 shares at $56.25 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Portola Pharmaceuticals Inc

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