.jpg "Portola Pharma (NASDAQ: PTLA)")
In a report released today, Jay Olson from Oppenheimer maintained a Buy rating on Portola Pharma (PTLA), with a price target of $30. The company’s shares closed on Friday at $23.99.
Olson observed:
“We met PTLA management for a business update and to discuss goals for 2019. CEO Garland is driving the organization with an intense focus on AndexXa. The immediate priority for management is clearly to optimize the AndexXa launch especially now that Gen2 supplies should open up the supply chain including: 1) consignment sales to improve stocking, 2) continued Sales Force expansion, 3) ramped up MD Speaker training and pursuit of a C code and J code to allow drip and ship. Several steps are being taken near term to leverage the Gen 2 supply. Longer term, PTLA believes cerdulatinib could become an important opportunity. We remain optimistic about PTLA based on our meeting and maintain our Outperform rating with $30 PT. Details inside.”
According to TipRanks.com, Olson is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.0% and a 35.8% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.
Portola Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $35.
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The company has a one-year high of $55.48 and a one-year low of $14.81. Currently, Portola Pharma has an average volume of 1.84M.
Based on the recent corporate insider activity of 45 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.
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Portola Pharmaceuticals, Inc. engages in the development and commercialization of novel therapeutics in the areas of thrombosis and hematologic disorders, and inflammation. Its FDA-approved medicines include Bevyxxa (betrixaban), the oral, once-daily Factor Xa inhibitor, and Andexxa coagulation factor Xa (recombinant), inactivated-zhzo, the antidote for the Factor Xa inhibitors rivaroxaban and apixaban. The company was founded by Charles J. Homcy and David R. Philips on September 2, 2003 and is headquartered in South San Francisco, CA.
