Portola Pharmaceuticals, Inc. (PTLA)’s Stock Formed A Several Months Bearish Wedge Down Pattern

December 7, 2017 - By reb123z

Investors sentiment decreased to 1.31 in Q2 2017. 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.
Price T Rowe Assoc Md invested in 23,240 shares. Tortoise Mgmt Lc reported 164 shares stake. Vanguard has invested 0.01% in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). First Personal Ser has invested 0.01% in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). Blue Jay Capital Management Limited Company accumulated 120,000 shares. Tourbillon Cap Prtnrs L P invested in 198,903 shares or 0.21% of the stock. Moreover, Blume Cap Mngmt has 0.03% invested in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) for 1,000 shares. Jane Street Gp Ltd Liability Co holds 46,489 shares or 0.01% of its portfolio. Fmr Ltd Llc invested in 0.03% or 3.79M shares. Art Advsrs Limited Liability holds 0.17% of its portfolio in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) for 57,500 shares. Raymond James Financial Advsrs holds 0% or 4,408 shares in its portfolio. Fernwood Invest Mngmt Lc holds 9.73% or 238,877 shares. Rock Springs Cap Mgmt L P reported 139,700 shares. Edge Wealth Mgmt Lc owns 0% invested in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) for 75 shares. Partner Fund Limited Partnership, California-based fund reported 2.75 million 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 earnings per share, down 60.00 % or $0.57 from last year’s $-0.95 per share. After $-1.41 actual earnings per share 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. As per Wednesday, August 5, the company rating was maintained by Cowen & Co. The company was maintained on Wednesday, September 20 by Credit Suisse. As per Tuesday, January 3, the company rating was upgraded by Citigroup. The rating was initiated by Goldman Sachs with “Buy” on Friday, December 18. The stock has “Hold” rating by Credit Suisse on Thursday, August 10. As per Friday, May 27, the company rating was maintained by Citigroup. The firm earned “Buy” rating on Monday, June 26 by Cowen & Co. Credit Suisse downgraded it to “Neutral” rating and $30 target in Tuesday, May 31 report. As per Wednesday, August 9, the company rating was maintained by Cowen & Co. The firm has “Buy” rating given on Sunday, July 23 by Oppenheimer.

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 Livetradingnews.com published the news titled: “Portola Pharmaceuticals Inc (NASDAQ:PTLA) Bullish Divergence” on November 22, 2017. Globenewswire.com‘s news article titled: “Portola Pharmaceuticals Provides Update on Bevyxxa® (betrixaban) Commercial Launch” with publication date: November 21, 2017 was also an interesting one.

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