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PTLA

Portola Pharmaceuticals

$24.38

-0.61 (-2.44%)

12:39
10/02/18
10/02
12:39
10/02/18
12:39

William Blair says market 'significantly' undervaluing Portola's Andexxa

William Blair analyst Matt Phipps says a call he hosted yesterday with Jean Marie Connors, M.D., associate professor of medicine and medical director of the hemostatic and antithrombotic stewardship program and anticoagulation management service at Brigham and Women's Hospital, to discuss the use of reversal agents in patients who experience major bleeding events on anticoagulants such as factor Xa inhibitors, highlighted the "significant opportunity" for Portola Pharmaceuticals' Andexxa. The call put a spotlight on the "sizable market opportunity" for Andexxa once the commercial supply amendment is approved, Phipps tells investors in a research note. The analyst continues to believe Andexxa has blockbuster potential based on the "significant and growing market opportunity" for the reversal of factor Xa inhibitors. Further, he sees an opportunity for increased utilization following approval in patients requiring emergency surgery, potentially increasing the average patients per month treated with Andexxa. The analyst believes the market continues to "significantly undervalue" the potential of Andexxa, as well as near-term catalysts for Portola, including expanding commercialization across the United States and regulatory approval in Europe. He keeps an Outperform rating on the shares.

  • 31

    Dec

PTLA Portola Pharmaceuticals
$24.38

-0.61 (-2.44%)

08/27/18
MSCO
08/27/18
NO CHANGE
MSCO
Equal Weight
Portola may be up 'somewhat' on Xarelto trial failure, says Morgan Stanley
Morgan Stanley analyst Matthew Harrison noted the failure of Johnson & Johnson's (JNJ)MARINER study, which was examining Xarelto, a competing anticogulant to Portola's (PTLA) BevyxXa. MARINER's failure to demonstrate a statistically significant result of reducing symptomatic VTE or death due to VTE is expected by Harrison to send Portola shares up "somewhat," but he believes most investors had already lowered their expectations for the BevyxXa franchise after the Q2 report, making the impact modest. He maintains an Equal Weight rating on Portola shares, which are up 3% to $29 per share in early trading.
08/27/18
08/27/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. First Majestic (AG) upgraded to Outperform from Market Perform at BMO Capital with analyst Ryan Thompson citing his expectations of gross margin improvement following the shutdown of the high-cost La Guitarra mine and the integration of the high-margin San Dimas mine. 2. Papa John's (PZZA) upgraded to Buy from Neutral at Kalinowski with analyst Mark Kalinowski saying he believes the reported hiring of Bank of America and Lazard increases the odds of a favorable outcome over the next 12 months, including the possibility of an acquisition. 3. Portola Pharmaceuticals (PTLA) upgraded to Neutral from Underperform at Credit Suisse with analyst Vamil Divan citing Johnson & Johnson (JNJ) and Bayer's (BAYRY) presentation of disappointing data for Xarelto in the acute medically ill population at ESC. 4. Bancolombia (CIB) upgraded to Neutral from Sell at Citi. 5. AK Steel (AKS) and Steel Dynamics (STLD) were upgraded to Overweight from Equal Weight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/07/18
SBSH
09/07/18
NO CHANGE
Target $50
SBSH
Buy
Departure of Portola's CCO is a 'clear positive,' says Citi
Citi analyst Yigal Nochomovitz said the resignation of Portola Pharmaceuticals' CCO is a "clear positive" and is not much of a surprise given his lack of experience in commercial operations. The analyst believes Portola can now substantially re-shape top-level management with a new COO with the right operational experience ahead of both the Andexxa and Bevyxxa launches. Norchomovitz rates Portola Pharmaceuticals a Buy with a $50 price target.
09/12/18
WBLR
09/12/18
NO CHANGE
WBLR
Outperform
Portola manufacturing review timeline encouraging, says William Blair
Portola Pharmaceuticals last night announced that the FDA assigned a PDUFA date of December 31, 2018, for the recently submitted prior approval supplement for the generation 2 manufacturing process of Andexxa, equating to a four-month review period, William Blair analyst Matt Phipps tells investors in a research note. Portola management had conservatively guided to a six-month review, the analyst notes. He's encouraged by this review timeline, pointing out that approval in 2018 would provide Portola with full commercial supply for Q1 of 2019. Phipps remains confident in the potential of Andexxa to achieve blockbuster sales and believes Andexxa alone is worth "significantly more than the company at current price levels." He keeps an Outperform rating on Portola Pharmaceuticals.

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AROC

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0.365 (3.76%)

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GLD

SPDR Gold Shares

$126.70

1.89 (1.51%)

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TSLA

Tesla

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IDCC

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HBM

Hudbay Minerals

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SPX

S&P 500

$0.00

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APHA

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TEVA

Teva

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