Oppenheimer analyst Jay Olson raised his price target for Portola Pharmaceuticals to $66 after the company received FDA approval for Byvexxa to prevent venous thromboembolism in adult patients hospitalized for an acute medical illness who are at risk. The drug's pricing offers an opportunity for upside, Olson tells investors in a research note. Management previously guided to pricing in line with factor Xa inhibitor competitors but now indicates that a premium is possible, the analyst adds. Olson raised his 2024 sales estimates to $1.4B from $1.1B and keeps an Outperform rating on Portola.