Today’s Research Reports on Stocks to Watch: Portola Pharmaceuticals and BioDelivery Sciences International
Both BioDelivery Sciences and Portola Pharmaceuticals failed to meet Wall Street’s views when they released their second quarter financial results. Despite the losses, both stocks have fared pretty well in 2017 with Portola shares more than doubling and shares of BioDelivery Sciences gaining 68% YTD.
RDI Initiates Coverage on:
Portola Pharmaceuticals, Inc.
BioDelivery Sciences International, Inc.
Portola Pharmaceuticals, Inc. shares closed down 7.19% on a little over 2 million shares traded. The California-based pharmaceutical company reported a loss of $69.5 million in its second quarter report. On a per share basis, the company reported a loss of $1.22 which was higher than the loss of $1.10 per share that analysts had expected. Revenue for the period was $3.8 million. The emerging pharmaceutical company develops treatments in thrombosis and other hematologic diseases. The company has one blockbuster drug already approved by the FDA called Bevyxxa and has another on the verge of approval. Shares of the stock have more than doubled since the start of the year. CEO Bill Lis has said Bevyxxa was approved as the first and only Factor Xa inhibitor in hospital and extended 35 to 42 day duration prevention of venous thromboembolism or VTE, in high-risk acutely ill medical patients.
Access RDI’s Portola Pharmaceuticals, Inc. Research Report at:
BioDelivery Sciences International, Inc. shares closed down 6.35% on Thursday with nearly 800,000 shares traded. The decline in share price came after the company posted a wider loss than expected in its second quarter financial results. The company reported after the bell on Wednesday and fell over 11% in after-hours trading. For the period, BDSI revealed a loss of 27 cents which was worse than the 25 cent loss that analysts had expected. It was however better than the loss of 31 cents the company reported in the year ago quarter. Revenue at $8.7 million was above Wall Street’s expectation of $7.8 million and also up 74% compared to the year ago quarter. Compared to the previous quarter however, revenues were down from the $29.5 million reported. Shares of the stock have gained 68% YTD.
Access RDI’s BioDelivery Sciences International, Inc. Research Report at:
Our Actionable Research on Portola Pharmaceuticals, Inc. (NASDAQ: PTLA) and BioDelivery Sciences International, Inc. (NASDAQ: BDSI) can be downloaded free of charge at Research Driven Investing.
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