Citi analyst Yigal Nochomovitz lowered his price target for Portola Pharmaceuticals to $50 saying early Bevyxxa launch challenges in building physician consensus are “substantially higher” than he expected. Portola guided for no meaningful changes in Bevyxxa revenue through mid-2019 with inflection only likely the second half of 2019, Nochomovitz tells investors in a research note. On a positive note, AndexXa is off to a very good start, the analyst adds. The analyst keeps a Buy rating on Portola.
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