Shares of PDL BioPharma Inc (NASDAQ:PDLI) have received an average recommendation of “Hold” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $3.25.
Several equities analysts recently commented on PDLI shares. Zacks Investment Research upgraded shares of PDL BioPharma from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a research note on Wednesday, March 14th. BidaskClub upgraded shares of PDL BioPharma from a “sell” rating to a “hold” rating in a research note on Friday, April 6th. TheStreet upgraded shares of PDL BioPharma from a “d+” rating to a “c-” rating in a research note on Friday, March 9th. Finally, Cowen restated a “hold” rating and issued a $2.50 price target on shares of PDL BioPharma in a research note on Thursday, June 14th.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of PDL BioPharma by 5.1% in the fourth quarter. BlackRock Inc. now owns 14,711,963 shares of the biotechnology company’s stock valued at $40,311,000 after acquiring an additional 713,150 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of PDL BioPharma by 10.9% in the first quarter. Dimensional Fund Advisors LP now owns 11,517,800 shares of the biotechnology company’s stock valued at $33,862,000 after acquiring an additional 1,129,428 shares in the last quarter. Northern Trust Corp lifted its position in PDL BioPharma by 46.5% during the first quarter. Northern Trust Corp now owns 4,973,948 shares of the biotechnology company’s stock worth $14,623,000 after purchasing an additional 1,578,761 shares during the period. Schwab Charles Investment Management Inc. lifted its position in PDL BioPharma by 9.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 3,433,185 shares of the biotechnology company’s stock worth $10,094,000 after purchasing an additional 301,466 shares during the period. Finally, Geode Capital Management LLC lifted its position in PDL BioPharma by 6.0% during the fourth 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. Institutional investors and hedge funds own 90.47% of the company’s stock.
Shares of PDL BioPharma traded up $0.02, hitting $2.34, on Tuesday, Marketbeat.com reports. The company had a trading volume of 947,819 shares, compared to its average volume of 1,608,707. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.03 and a quick ratio of 9.75. PDL BioPharma has a 1-year low of $2.15 and a 1-year high of $3.55. The company has a market cap of $349.49 million, a P/E ratio of 3.71 and a beta of 0.32.
PDL BioPharma (NASDAQ:PDLI) last released its quarterly earnings results on Wednesday, May 9th. The biotechnology company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. PDL BioPharma had a net margin of 33.57% and a return on equity of 11.76%. The business had revenue of $38.52 million for the quarter. equities research analysts expect that PDL BioPharma will post 0.22 earnings per share for the current year.
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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