Portola Pharmaceuticals, Inc. (PTLA)’s Stock Is Sell After Forming Wedge Down

December 7, 2017 - By Winifred Garcia

Investors sentiment decreased to 1.31 in Q2 2017. Its down 0.29, from 1.6 in 2017Q1. It is 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.
Captrust Financial Advsrs holds 0% or 300 shares in its portfolio. 228,187 are held by Schwab Charles Invest Mngmt. Sva Plumb Wealth Mngmt Limited Co holds 0.03% or 3,650 shares in its portfolio. Wells Fargo & Mn stated it has 41,783 shares or 0% of all its holdings. Pacad Invest Ltd invested 0.23% in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). Jacobs Levy Equity Mgmt has 0.02% invested in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). Jpmorgan Chase & stated it has 718,158 shares. Creative Planning invested in 0.01% or 38,083 shares. Credit Suisse Ag holds 0.01% of its portfolio in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) for 107,945 shares. Focused Wealth Mngmt holds 0% or 125 shares. Paradigm Asset Management Com Limited Liability Corp holds 0% in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) or 11,800 shares. Parametric Port Assoc Lc holds 0% or 35,675 shares. The Illinois-based Blair William & Co Il has invested 0.01% in Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). Alps Advsr reported 51,468 shares stake. Brown Brothers Harriman And holds 284 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 Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) on Wednesday, August 10 with “Buy” rating. As per Monday, March 28, the company rating was maintained by Credit Suisse. Citigroup maintained it with “Buy” rating and $36 target in Friday, May 27 report. The firm has “Hold” rating given on Thursday, August 10 by Credit Suisse. The rating was upgraded by Oppenheimer on Friday, February 24 to “Outperform”. The stock of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) has “Neutral” rating given on Friday, August 19 by Credit Suisse. Credit Suisse upgraded Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) on Thursday, August 24 to “Outperform” rating. Morgan Stanley maintained the shares of PTLA in report on Friday, August 19 with “Overweight” rating. The stock of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) earned “Buy” rating by Oppenheimer on Friday, August 4. The rating was maintained by Credit Suisse with “Outperform” on Tuesday, December 27.

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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