RH, Stone Energy, Portola Pharmaceuticals Stocks Moving Today

RH, Stone Energy, and Portola Pharmaceuticals are three stocks making notable moves on the charts today

Feb 24, 2017 at 1:55 PM
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Bank stocks and lower oil prices have the Dow on track to snap its win streak today. Among specific equities in focus are home furnishings retailer RH (NYSE:RH), oil-and-gas stock Stone Energy Corporation (NYSE:SGY), and biotech issue Portola Pharmaceuticals Inc (NASDAQ:PTLA). Here's a quick look at what's moving shares of RH, SGY, and PTLA.

RH Preliminary Results Boost Stock Price

RH is the top gainer on the New York Stock Exchange, thanks to the company's better-than-expected preliminary fourth-quarter earnings results. The stock was last seen 28.2% higher at $32.29, putting it on pace for its first close above its 200-day moving average since its December bear gap. Meanwhile, Goldman Sachs trimmed its price target by $1 to $39, while Deutsche Bank lowered its price target to $31 from $33. Looking closer, 10 of 13 covering brokerage firms rate RH shares a "hold," which means there's potential for bullish analyst attention to keep today's rally alive. 

Stone Energy Bounces On Chapter 11 Update

SGY is also gaining, up 8.1% at $6.71, after the company said it would continue listing shares after its Chapter 11 reorganization, while reporting a loss for the fourth quarter. Of course, this move offers little solace for long-term investors, who've watched the stock fall from a 2014 peak of $500 amid the fundamental difficulties. Currently, most analysts are taking a wait-and-see approach, with four of six rating Stone Energy Corporation a "hold." 

Bullish Note Keeps Portola Pharmaceuticals Hot

Oppenheimer upgraded PTLA to "outperform" and raised its price target to $40 from $28, expressing confidence in the company's factor Xa inhibitor, Betrixaban. The shares earlier hit an annual high of $33.68, and were last seen 3.6% higher at $33.31. The stock has more than doubled in value since its November low, which may explain options traders' bullish appetite. For example, more than 1,400 Portola Pharmaceuticals calls were bought to open during the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), compared to just 121 puts. 

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