Portola Pharmaceuticals Inc (PTLA) is Downgraded by Citigroup to Neutral

Portola Pharmaceuticals Inc (PTLA) was Downgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on Aug 19, 2016.

Many Wall Street Analysts have commented on Portola Pharmaceuticals Inc. Shares were Downgraded by Credit Suisse on May 31, 2016 to ” Neutral” and Lowered the Price Target to $ 30 from a previous price target of $33 .

On the company’s financial health, Portola Pharmaceuticals Inc reported $-1.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $-1.17. The company had revenue of $4.20 million for the quarter, compared to analysts expectations of $2.11 million. The company’s revenue was up 75.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.12 EPS.

Portola Pharmaceuticals Inc closed down -2.92 points or -10.97% at $23.69 with 38,15,594 shares getting traded on Wednesday. Post opening the session at $27.09, the shares hit an intraday low of $20.86 and an intraday high of $27.1599 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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