Portola Pharma Receives a Buy from Oppenheimer

By Ryan Adsit

Oppenheimer analyst Jay Olson maintained a Buy rating on Portola Pharma (NASDAQ: PTLA) on March 15 and set a price target of $46. The company’s shares closed last Friday at $39.44, close to its 52-week high of $41.27.

According to TipRanks.com, Olson is a 4-star analyst with an average return of 10.0% and a 64.7% success rate. Olson covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, Intercept Pharma, and Axovant Sciences.

Currently, the analyst consensus on Portola Pharma is Moderate Buy and the average price target is $37.33, representing a -5.3% downside.

In a report issued on March 1, William Blair also maintained a Buy rating on the stock.

Based on Portola Pharma’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $13.69 million and GAAP net loss of $53.84 million. In comparison, last year the company earned revenue of $4.41 million and had a GAAP net loss of $66.11 million.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PTLA in relation to earlier this year. Most recently, in August 2016, Mardi Dier, the EVP & CFO of PTLA bought 15,152 shares for a total of $50,002.

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Portola Pharmaceuticals, Inc. engages in the development and commercialization of novel therapeutics in the areas of thrombosis and other hematologic disorders, and inflammation. Its development-stage portfolio consists of the compounds including Betrixaban, a novel oral once-daily inhibitor of Factor Xa in phase three clinical trials for extended duration prophylaxis, or preventive treatment of a form of thrombosis known as venous thromboembolism, in acute medically ill patients; Andexanet alfa, a recombinant protein designed to reverse anticoagulant activity in patients treated with a Factor Xa inhibitor; and Cerdulatinib, an orally available kinase inhibitor that inhibits spleen tyrosine kinase and janus kinases, enzymes that regulate important signaling pathways. The company was founded by Charles J. Homcy and David R. Philips on September 2, 2003 and is headquartered in South San Francisco, CA.