Portola Pharmaceuticals price target raised to $42 from $30 at Oppenheimer

Oppenheimer analyst Jay Olson raised his price target for Portola Pharmaceuticals to $42 from $30 as the company’s update highlights increased focus on the U.S. Andexxa launch, positive CHMP opinion for andexanet in Europe, feedback from end of Phase 2 meeting with FDA for cerdulatinib, and $125M debt financing agreement. The analyst views all of these items as positives for Portola Pharmaceuticals’ shareholders and reiterates an Outperform on the stock.
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