Geode Capital Management LLC raised its holdings in PDL Biopharma (NASDAQ:PDLI) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,119,754 shares of the biotechnology company’s stock after buying an additional 120,069 shares during the period. Geode Capital Management LLC owned about 1.37% of PDL Biopharma worth $5,807,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in PDLI. Schwab Charles Investment Management Inc. raised its stake in PDL Biopharma by 10.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 3,169,759 shares of the biotechnology company’s stock valued at $10,746,000 after buying an additional 292,654 shares during the period. Dimensional Fund Advisors LP raised its stake in PDL Biopharma by 17.2% in the third quarter. Dimensional Fund Advisors LP now owns 8,707,461 shares of the biotechnology company’s stock valued at $29,518,000 after buying an additional 1,279,431 shares during the period. OxFORD Asset Management LLP bought a new stake in PDL Biopharma in the third quarter valued at approximately $359,000. Allianz Asset Management GmbH raised its stake in PDL Biopharma by 18.5% in the third quarter. Allianz Asset Management GmbH now owns 941,088 shares of the biotechnology company’s stock valued at $3,191,000 after buying an additional 146,817 shares during the period. Finally, Highbridge Capital Management LLC raised its stake in PDL Biopharma by 562.4% in the third quarter. Highbridge Capital Management LLC now owns 132,477 shares of the biotechnology company’s stock valued at $449,000 after buying an additional 112,477 shares during the period. Hedge funds and other institutional investors own 91.40% of the company’s stock.
PDLI has been the topic of several research analyst reports. BidaskClub lowered PDL Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Zacks Investment Research lowered PDL Biopharma from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, TheStreet upgraded PDL Biopharma from a “d+” rating to a “c-” rating in a research note on Friday, March 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $3.50.
Shares of NASDAQ PDLI opened at $3.00 on Tuesday. The company has a market cap of $461.44, a PE ratio of 4.76 and a beta of 0.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.27 and a current ratio of 3.32. PDL Biopharma has a 1-year low of $2.01 and a 1-year high of $3.55.
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PDL Biopharma Company Profile
PDL BioPharma, Inc acquires and manages companies, products, royalty agreements, and debt facilities in the biotechnology, pharmaceutical, and medical device industries in the United States, Europe, and internationally. The company operates in three segments: Income Generating Assets, Pharmaceutical, and Medical Devices.
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