Credit Suisse analyst Vamil Divan cut his price target on Portola Pharmaceuticals to $49 from $53, telling investors in a research note that while the company's updated AndexXa data looks "clean," he is "confused as to why the FDA has floated the possibility of requiring a randomized clinical trial so late in the AndexXa approval process." He expects investor confusion to remain in the short-term, as Portola has not been able to provide any clarity, but believes the drug should be approved given the current dataset and growing unmet medical need. Divan, who has an Outperform rating on Portola, sees an attractive risk/reward in the stock heading into this upcoming catalyst.