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Fly News Breaks for August 19, 2016
PTLA
Aug 19, 2016 | 06:13 EDT
Citi analyst Yigal Nochomovitz downgraded Portola Pharmaceuticals to Neutral citing the "surprising" Complete Response Letter from the FDA for Andexanet. It appears management did not proactively ask FDA upfront the right questions, Nochomovitz tells investors in a research note. The analyst sees too much risk and cut his price target for the shares to $24 from $40.
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