In a report released today, Jay Olson from Oppenheimer reiterated a Buy rating on Portola Pharma (PTLA), with a price target of $30. The company’s shares opened today at $27.69.
Olson said:
“Final results from the ANNEXA-4 trial provided several important insights into the safety and efficacy of AndexXa for reversal of anti-coagulation by Factor Xa inhibitors in patients with acute major bleeding events. We sifted through the data to come up with the following conclusions: 1) AndexXa addresses a significant unmet medical need; 2) AndexXa appears to provide a clear mortality benefit in patients on Factor Xa inhibitors with ICH bleeds; 3) AndexXa stabilizes hematoma in ICH patients and prevents further expansion;and 4) restarting oral anticoagulation post-AndexXa reduces thrombotic events to zero. We look forward to 4Q18 results which are expected on an update on the AndexXa launch and reiterate our Outperform rating. Details inside.”
According to TipRanks.com, Olson is ranked 0 out of 5 stars with an average return of -6.7% and a 37.7% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Conatus Pharmaceuticals, and Enanta Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Portola Pharma with a $30 average price target.
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Based on Portola Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $71.3 million. In comparison, last year the company had a GAAP net loss of $91.78 million.
Based on the recent corporate insider activity of 51 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.
