William Blair Starts Portola Pharmaceuticals (PTLA) at Outperform
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Price: $18.03 --0%
Rating Summary:
1 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
1 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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William Blair initiates coverage on Portola Pharmaceuticals (NASDAQ: PTLA) with a Outperform.
Analyst John Sonnier said, "Portola is a unique late-stage drug development company with two wholly owned assets in the cardiovascular space that have demonstrated encouraging clinical data to date. The company's primary focus is in the thromboembolism setting: Its lead investigational factor Xa inhibitor, betrixaban, is undergoing Phase III testing, and its factor Xa antidote, PRT4445, is in Phase II trials for the reversal of anticoagulation by factor Xa inhibitors. In 2012, novel oral anticoagulants—drugs that inhibit coagulation by blocking thrombin or factor Xa—represented roughly $300 million in U.S. sales, which we believe could increase to $4 billion by 2017, the majority of which will be due to sales of factor Xa inhibitors. The growth of this class of drugs is primarily the result of their superior efficacy, safety, and convenience profiles versus current standards of care, such as warfarin. Both of Portola’s lead compounds, betrixaban and PRT4445, benefit from this growing class of drugs. Furthermore, with the introduction of an antidote to block these drugs' effects on bleeding, we believe physicians will become more willing to prescribe them."
For an analyst ratings summary and ratings history on Portola Pharmaceuticals click here. For more ratings news on Portola Pharmaceuticals click here.
Shares of Portola Pharmaceuticals closed at $20.05 yesterday.
Analyst John Sonnier said, "Portola is a unique late-stage drug development company with two wholly owned assets in the cardiovascular space that have demonstrated encouraging clinical data to date. The company's primary focus is in the thromboembolism setting: Its lead investigational factor Xa inhibitor, betrixaban, is undergoing Phase III testing, and its factor Xa antidote, PRT4445, is in Phase II trials for the reversal of anticoagulation by factor Xa inhibitors. In 2012, novel oral anticoagulants—drugs that inhibit coagulation by blocking thrombin or factor Xa—represented roughly $300 million in U.S. sales, which we believe could increase to $4 billion by 2017, the majority of which will be due to sales of factor Xa inhibitors. The growth of this class of drugs is primarily the result of their superior efficacy, safety, and convenience profiles versus current standards of care, such as warfarin. Both of Portola’s lead compounds, betrixaban and PRT4445, benefit from this growing class of drugs. Furthermore, with the introduction of an antidote to block these drugs' effects on bleeding, we believe physicians will become more willing to prescribe them."
For an analyst ratings summary and ratings history on Portola Pharmaceuticals click here. For more ratings news on Portola Pharmaceuticals click here.
Shares of Portola Pharmaceuticals closed at $20.05 yesterday.
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