BidaskClub upgraded shares of PDL Biopharma (NASDAQ:PDLI) from a sell rating to a hold rating in a research note published on Friday morning.
PDLI has been the subject of several other research reports. Zacks Investment Research upgraded shares of PDL Biopharma from a hold rating to a buy rating and set a $3.50 target price for the company in a research note on Wednesday, March 14th. TheStreet upgraded shares of PDL Biopharma from a d+ rating to a c- rating in a research note on Friday, March 9th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. PDL Biopharma currently has an average rating of Buy and a consensus target price of $3.50.
Shares of PDLI stock traded down $0.02 during mid-day trading on Friday, hitting $3.02. 1,104,655 shares of the stock were exchanged, compared to its average volume of 1,938,218. The firm has a market cap of $467.59, a price-to-earnings ratio of 4.79 and a beta of 0.37. PDL Biopharma has a 12-month low of $2.00 and a 12-month high of $3.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.27 and a current ratio of 3.32.
Several institutional investors and hedge funds have recently made changes to their positions in PDLI. Dimensional Fund Advisors LP boosted its stake in shares of PDL Biopharma by 17.2% during the third quarter. Dimensional Fund Advisors LP now owns 8,707,461 shares of the biotechnology company’s stock worth $29,518,000 after buying an additional 1,279,431 shares during the period. SG Americas Securities LLC boosted its stake in shares of PDL Biopharma by 2,789.8% during the fourth quarter. SG Americas Securities LLC now owns 822,790 shares of the biotechnology company’s stock worth $2,254,000 after buying an additional 794,318 shares during the period. BlackRock Inc. boosted its stake in shares of PDL Biopharma by 5.1% during the fourth quarter. BlackRock Inc. now owns 14,711,963 shares of the biotechnology company’s stock worth $40,311,000 after buying an additional 713,150 shares during the period. Bank of Montreal Can boosted its stake in shares of PDL Biopharma by 126.9% during the fourth quarter. Bank of Montreal Can now owns 887,701 shares of the biotechnology company’s stock worth $2,432,000 after buying an additional 496,515 shares during the period. Finally, Chicago Equity Partners LLC acquired a new stake in shares of PDL Biopharma during the fourth quarter worth about $1,263,000. Institutional investors and hedge funds own 91.40% of the company’s stock.
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About PDL Biopharma
PDL BioPharma, Inc acquires and manages companies, products, royalty agreements, and debt facilities in the biotech, pharmaceutical, and medical device industries in the United States, Europe, and internationally. The company operates through two segments, Income Generating Assets and Product Sales. The Income Generating Assets segment consists of royalties from issued patents covering the humanization of antibodies, including Avastin, Herceptin, Xolair, Lucentis, Perjeta, Kadcyla, and Tysabri; and notes and other long-term receivables, royalty rights, hybrid notes/royalties receivable, and equity investments in healthcare companies.
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