Two Sigma Advisers LP lowered its holdings in shares of PDL Biopharma (NASDAQ:PDLI) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 888,693 shares of the biotechnology company’s stock after selling 51,900 shares during the period. Two Sigma Advisers LP owned 0.58% of PDL Biopharma worth $2,435,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Goldman Sachs Group Inc. boosted its stake in PDL Biopharma by 4.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,355,629 shares of the biotechnology company’s stock worth $3,714,000 after purchasing an additional 58,212 shares during the period. AXA boosted its stake in PDL Biopharma by 1,536.7% during the 4th quarter. AXA now owns 338,800 shares of the biotechnology company’s stock worth $928,000 after purchasing an additional 318,100 shares during the period. Geode Capital Management LLC boosted its stake in PDL Biopharma by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 2,119,754 shares of the biotechnology company’s stock worth $5,807,000 after purchasing an additional 120,069 shares during the period. Allianz Asset Management GmbH boosted its stake in PDL Biopharma by 2.3% during the 4th quarter. Allianz Asset Management GmbH now owns 962,268 shares of the biotechnology company’s stock worth $2,637,000 after purchasing an additional 21,180 shares during the period. Finally, Spark Investment Management LLC acquired a new stake in PDL Biopharma during the 4th quarter worth $142,000. Hedge funds and other institutional investors own 91.40% of the company’s stock.
A number of analysts recently weighed in on the stock. TheStreet upgraded shares of PDL Biopharma from a “d+” rating to a “c-” rating in a research note on Friday, March 9th. Zacks Investment Research cut shares of PDL Biopharma from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, BidaskClub cut shares of PDL Biopharma from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 13th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $3.50.
PDLI stock opened at $3.02 on Friday. PDL Biopharma has a one year low of $2.00 and a one year high of $3.55. The firm has a market capitalization of $469.13, a PE ratio of 4.79 and a beta of 0.37. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 0.14.
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PDL Biopharma Company Profile
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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