“With PTLA shares down 16% YTD despite FDA approval of 4 (vs. the NBI and S&P 500 both up 4% YTD), we explore one of the bear theses we consider potentially misleading. Investor interest in ciraparantag as a potential competitor to AndexXa has focused on two dose-ranging Ph2 studies listed on clinicaltrials.gov which could be viewed by some as a threat to PTLA. As the only approved reversal agent for Xarelto and Eliquis, we believe AndexXa should remain relatively free of competitors for some time based on ciraparantag’s: 1) seemingly inferior efficacy, 2) potential safety concerns, and 3) apparent dosing issues. We maintain our Outperform rating and $80 PT for PTLA. Highlights below with details inside.”
According to TipRanks.com, Olson is a 3-star analyst with an average return of 3.4% and a 48.4% 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 Strong Buy, with a price target consensus of $63.75.
Based on Portola Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $84.18 million. In comparison, last year the company had a GAAP net loss of $41.72 million.
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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.
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