Revenue Update on Portola Pharmaceuticals Inc(NASDAQ:PTLA)

Portola Pharmaceuticals Inc(NASDAQ:PTLA) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $4.23M. Analysts estimated a revenue of $4.38M. Earnings per share were $-1.02. Analysts had estimated an EPS of $-1.20.

In a different note, On May 31, 2016, Credit Suisse said it Downgrades its rating on Portola Pharmaceuticals Inc. In the research note, the firm Lowers the price-target to $33.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 27, 2016, Citigroup said it Maintains its rating on Portola Pharmaceuticals Inc. In the research note, the firm Raises the price-target to $29.00 per share. The shares have been rated ‘Buy’ by the firm.

Portola Pharmaceuticals Inc (PTLA) shares turned negative on Wednesdays trading session with the shares closing down -2.92 points or -10.97% at a volume of 38,15,594. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $27.1599. The peak price level was also seen at $27.1599 while the days lowest was $20.86. Finally the shares closed at $23.69. The 52-week high of the shares is $57.955 while the 52-week low is $18.2. According to the latest information available, the market cap of the company is $1,339 M.

Several Insider Transactions has been reported to the SEC. On May 3, 2016, William Lis (Chief Executive Officer) sold 5,675 shares at $23.86 per share price.Also, 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.

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