What’s in Portola Pharmaceuticals, Inc. (PTLA) After Forming Bearish Wedge Down Pattern?

December 7, 2017 - By Clifton Ray

Investors sentiment decreased to 1.31 in 2017 Q2. Its down 0.29, from 1.6 in 2017Q1. It dropped, as 17 investors sold Portola Pharmaceuticals, Inc. shares while 58 reduced holdings. 45 funds opened positions while 53 raised stakes. 48.64 million shares or 0.79% more from 48.26 million shares in 2017Q1 were reported.
Blackrock invested 0.01% in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). Moreover, Deerfield Management has 1.26% invested in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) for 419,000 shares. The New York-based Amalgamated National Bank & Trust has invested 0.01% in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). Swiss Bancorp reported 93,057 shares. Airain holds 13,643 shares. Cornerstone Cap Management Ltd Llc accumulated 23,514 shares. Tiaa Cref Management Limited Liability invested 0.01% in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). Parametric Portfolio Assoc Limited Liability Corp holds 35,675 shares or 0% of its portfolio. 325,200 were accumulated by Balyasny Asset Mngmt Ltd. Neuberger Berman Llc has invested 0% of its portfolio in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). Rhumbline Advisers holds 57,479 shares. Moreover, Pacad Inv Ltd has 0.23% invested in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) for 27,590 shares. Manufacturers Life Insurance Company The holds 0% or 38,612 shares in its portfolio. New York-based Goldman Sachs has invested 0.01% in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). Two Sigma Limited Com has 16,695 shares.

The stock of Portola Pharmaceuticals, Inc. (PTLA) formed a down wedge with $49.02 target or 7.00 % below today’s $52.71 share price. The 6 months wedge indicates high risk for the $3.44 billion company. If the $49.02 price target is reached, the company will be worth $240.73M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 3.25% or $1.66 during the last trading session, reaching $52.71. About 431,849 shares traded. Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) has risen 51.17% since December 8, 2016 and is uptrending. It has outperformed by 34.47% the S&P500.

Analysts await Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) to report earnings on February, 27. They expect $-1.52 EPS, down 60.00 % or $0.57 from last year’s $-0.95 per share. After $-1.41 actual EPS reported by Portola Pharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts 7.80 % negative EPS growth.

Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) Ratings Coverage

Among 6 analysts covering Portola Pharmaceuticals (NASDAQ:PTLA), 6 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Portola Pharmaceuticals had 29 analyst reports since August 5, 2015 according to SRatingsIntel. Citigroup maintained the stock with “Buy” rating in Friday, May 27 report. The firm has “Buy” rating given on Wednesday, August 9 by Cowen & Co. As per Monday, March 28, the company rating was downgraded by Goldman Sachs. The firm earned “Buy” rating on Monday, August 28 by Oppenheimer. The firm has “Buy” rating given on Friday, December 1 by Goldman Sachs. As per Tuesday, January 3, the company rating was upgraded by Citigroup. On Monday, June 26 the stock rating was maintained by Oppenheimer with “Buy”. Oppenheimer maintained it with “Buy” rating and $8000 target in Thursday, August 10 report. Morgan Stanley maintained it with “Overweight” rating and $81 target in Friday, October 6 report. The company was maintained on Wednesday, August 5 by Cowen & Co.

More recent Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) news were published by: Livetradingnews.com which released: “Portola Pharmaceuticals Inc (NASDAQ:PTLA) Bullish Divergence” on November 22, 2017. Also Globenewswire.com published the news titled: “Portola Pharmaceuticals Provides Update on Bevyxxa® (betrixaban) Commercial Launch” on November 21, 2017. Nasdaq.com‘s news article titled: “Partner Fund Management, LP Buys Portola Pharmaceuticals Inc, Centene Corp …” with publication date: November 16, 2017 was also an interesting one.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.