Portola Pharmaceuticals, Inc. (PTLA) Formed a Bearish Wedge Down Pattern, Could Be One of The Worst Performers Going Forward

January 16, 2018 - By Vivian Park

Investors sentiment increased to 2.16 in Q3 2017. Its up 0.85, from 1.31 in 2017Q2. It improved, as 20 investors sold Portola Pharmaceuticals, Inc. shares while 37 reduced holdings. 38 funds opened positions while 85 raised stakes. 56.33 million shares or 15.80% more from 48.64 million shares in 2017Q2 were reported.
Endurant Capital L P reported 1.64% of its portfolio in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). Wellington Mngmt Grp Inc Limited Liability Partnership owns 5.46M shares. Pinnacle Assoc Limited holds 0.49% or 492,381 shares. First Trust Advsr Lp has 43,259 shares. San Francisco Sentry Grp Incorporated (Ca) reported 150 shares. 125 are owned by Focused Wealth Mgmt. 7,870 are owned by Perceptive Advsr Ltd Liability Corp. 333,862 are held by Morgan Stanley. Art Advsrs Llc has 55,700 shares. 334,027 were accumulated by National Bank Of Mellon. Rhenman And Prns Asset Mngmt holds 2.05% or 297,400 shares. Credit Suisse Ag has 141,369 shares for 0.01% of their portfolio. Martingale Asset Mgmt Limited Partnership stated it has 9,300 shares or 0.01% of all its holdings. Hoertkorn Richard Charles invested in 0.02% or 500 shares. Ahl Prns Limited Liability Partnership reported 7,083 shares.

Since December 15, 2017, it had 0 insider buys, and 1 insider sale for $563,950 activity.

The stock of Portola Pharmaceuticals, Inc. (PTLA) formed a down wedge with $48.89 target or 7.00 % below today’s $52.57 share price. The 7 months wedge indicates high risk for the $3.43B company. If the $48.89 price target is reached, the company will be worth $240.10M 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 decreased 0.10% or $0.05 during the last trading session, reaching $52.57. About 96,811 shares traded. Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) has risen 51.17% since January 16, 2017 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 32 analyst reports since August 5, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Tuesday, January 3 by Citigroup. Credit Suisse maintained Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) rating on Thursday, August 10. Credit Suisse has “Hold” rating and $7000 target. The firm earned “Buy” rating on Monday, June 26 by Cowen & Co. The firm has “Buy” rating given on Monday, June 26 by Oppenheimer. Goldman Sachs initiated Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) rating on Friday, December 1. Goldman Sachs has “Buy” rating and $75.0 target. The firm has “Buy” rating by Morgan Stanley given on Monday, June 26. The company was downgraded on Friday, August 19 by Citigroup. Oppenheimer maintained the stock with “Buy” rating in Thursday, August 10 report. The stock has “Buy” rating by Cowen & Co on Wednesday, August 9. Oppenheimer maintained the shares of PTLA in report on Friday, August 4 with “Buy” rating.

More notable recent Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) news were published by: Globenewswire.com which released: “Portola Pharmaceuticals to Webcast Corporate Update on January 9, 2018” on December 22, 2017, also Seekingalpha.com with their article: “Portola Pharmaceuticals: What The Early FDA Approval Of Bevyxxa PAS Entails” published on December 22, 2017, Fool.com published: “Here’s Why Portola Pharmaceuticals Inc. Tanked as Much as 10%” on December 26, 2017. More interesting news about Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) were released by: Prnewswire.com and their article: “Pre-Market Technical Scan on Biotech Equities — Portola Pharmaceuticals …” published on December 19, 2017 as well as Seekingalpha.com‘s news article titled: “Portola Pharmaceuticals: What The AndexXa Approval Delay Means?” with publication date: December 24, 2017.

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