Cowen & Co. Sticks to Its Buy Rating for Portola Pharma (PTLA)

By Ryan Adsit

Cowen & Co. analyst Phil Nadeau maintained a Buy rating on Portola Pharma (PTLAResearch Report) yesterday and set a price target of $45.00. The company’s shares closed last Monday at $30.49.

According to TipRanks.com, Nadeau is a 4-star analyst with an average return of 4.4% and a 48.3% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Alexion Pharmaceuticals, and BioMarin Pharmaceutical.

Portola Pharma has an analyst consensus of Strong Buy, with a price target consensus of $42.00.

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Based on Portola Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $66.2 million. In comparison, last year the company had a GAAP net loss of $71.3 million.

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Portola Pharmaceuticals, Inc. engages in the development and commercialization of novel therapeutics in the areas of thrombosis, other hematologic disorders and inflammation. It offers Andexxa, and Bevyxxa medicines. The company was founded by Charles J. Homcy and David R. Philips on September 2, 2003 and is headquartered in South San Francisco, CA.