It Seems Portola Pharmaceuticals, Inc. (PTLA) Will Go Down. Formed A Few Months Wedge Down

December 7, 2017 - By Michael Collier

Investors sentiment decreased to 1.31 in 2017 Q2. Its down 0.29, from 1.6 in 2017Q1. It turned negative, 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.
Citadel Limited Liability Company holds 0.02% or 488,642 shares. Ghost Tree Capital Lc reported 200,000 shares stake. Art Ltd, New York-based fund reported 57,500 shares. Tourbillon Prns Limited Partnership owns 198,903 shares or 0.21% of their US portfolio. 7,390 are owned by Walleye Trading Limited Liability Corporation. Polar Cap Limited Liability Partnership invested 0.26% of its portfolio in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). Zevenbergen Cap Investments Ltd Llc accumulated 1.1% or 452,190 shares. California State Teachers Retirement Systems reported 88,055 shares. State Board Of Administration Of Florida Retirement System, a Florida-based fund reported 24,716 shares. 38,612 are held by Manufacturers Life Communications The. Emerald Mutual Fund Advisers Tru owns 362,711 shares. Georgia-based Invesco Limited has invested 0% in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). Ameriprise reported 31,374 shares or 0% of all its holdings. 30,818 are owned by Int Gp. Weiss Multi invested in 0.02% or 10,500 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. The company was upgraded on Tuesday, January 3 by Citigroup. On Friday, August 4 the stock rating was maintained by Oppenheimer with “Buy”. The rating was upgraded by Oppenheimer to “Outperform” on Friday, February 24. The stock of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) earned “Buy” rating by Oppenheimer on Monday, August 28. The company was maintained on Thursday, August 10 by Credit Suisse. On Friday, May 27 the stock rating was maintained by Citigroup with “Buy”. The firm has “Buy” rating by Goldman Sachs given on Friday, December 1. Credit Suisse maintained Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) rating on Tuesday, December 27. Credit Suisse has “Outperform” rating and $29 target. The stock of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) has “Buy” rating given on Wednesday, August 10 by Citigroup. The stock of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) has “Buy” rating given on Wednesday, August 5 by Cowen & Co.

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

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