Sectoral Asset Management Inc Lowers stake in Portola Pharmaceuticals Inc (PTLA)

Portola Pharmaceuticals Inc (PTLA) : Sectoral Asset Management Inc reduced its stake in Portola Pharmaceuticals Inc by 22.83% during the most recent quarter end. The investment management company now holds a total of 1,229,382 shares of Portola Pharmaceuticals Inc which is valued at $33,943,237 after selling 363,657 shares in Portola Pharmaceuticals Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Portola Pharmaceuticals Inc makes up approximately 3.21% of Sectoral Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Marshall Wace Llp reduced its stake in PTLA by selling 93,372 shares or 73.49% in the most recent quarter. The Hedge Fund company now holds 33,685 shares of PTLA which is valued at $930,043. Portola Pharmaceuticals Inc makes up approx 0.01% of Marshall Wace Llp’s portfolio. Los Angeles Capital Management Equity Research Inc added PTLA to its portfolio by purchasing 9,745 company shares during the most recent quarter which is valued at $258,535. Princeton Alpha Management Lp added PTLA to its portfolio by purchasing 13,247 company shares during the most recent quarter which is valued at $365,617. Portola Pharmaceuticals Inc makes up approx 0.06% of Princeton Alpha Management Lp’s portfolio.Simplex Trading reduced its stake in PTLA by selling 13,951 shares or 81.69% in the most recent quarter. The Hedge Fund company now holds 3,126 shares of PTLA which is valued at $73,805. Portola Pharmaceuticals Inc makes up approx 0.01% of Simplex Trading’s portfolio.

Portola Pharmaceuticals Inc opened for trading at $20.56 and hit $20.62 on the upside on Monday, eventually ending the session at $20.38, with a gain of 1.09% or 0.22 points. The heightened volatility saw the trading volume jump to 8,72,521 shares. Company has a market cap of $1,151 M.

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.

Many Wall Street Analysts have commented on Portola Pharmaceuticals Inc. Portola Pharmaceuticals Inc was Downgraded by Citigroup to ” Neutral” on Aug 19, 2016. 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 .

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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