Insider Buying: (Mauritius) Pte Ltd Maxwell Buys 1,600,000 Shares of Portola Pharmaceuticals Stock (PTLA)

Portola Pharmaceuticals (NASDAQ:PTLA) major shareholder (Mauritius) Pte Ltd Maxwell acquired 1,600,000 shares of the stock in a transaction that occurred on Wednesday, October 8th. The stock was purchased at an average price of $26.00 per share, for a total transaction of $41,600,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

PTLA has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Portola Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $31.10 price target on the stock.

Shares of Portola Pharmaceuticals (NASDAQ:PTLA) opened at 26.55 on Friday. Portola Pharmaceuticals has a 1-year low of $19.59 and a 1-year high of $31.48. The stock has a 50-day moving average of $26.88 and a 200-day moving average of $25.39. The company’s market cap is $1.099 billion.

Portola Pharmaceuticals (NASDAQ:PTLA) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.76) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.79) by $0.03. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.44 million. Portola Pharmaceuticals’s revenue was down 7.2% compared to the same quarter last year. Analysts expect that Portola Pharmaceuticals will post $-3.38 EPS for the current fiscal year.

Portola Pharmaceuticals, Inc (NASDAQ:PTLA) is a biopharmaceutical company developing product candidates that have the potential to represent advances in the fields of thrombosis and hematology.

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