Geode Capital Management LLC grew its stake in shares of PDL BioPharma Inc (NASDAQ:PDLI) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,910,568 shares of the biotechnology company’s stock after purchasing an additional 45,573 shares during the quarter. Geode Capital Management LLC owned approximately 1.31% of PDL BioPharma worth $5,540,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in PDLI. FMR LLC acquired a new stake in PDL BioPharma during the third quarter worth approximately $2,342,000. Brandes Investment Partners LP raised its holdings in PDL BioPharma by 13.4% during the fourth quarter. Brandes Investment Partners LP now owns 4,463,103 shares of the biotechnology company’s stock worth $12,943,000 after purchasing an additional 526,384 shares in the last quarter. Prudential Financial Inc. raised its holdings in PDL BioPharma by 3,050.4% during the fourth quarter. Prudential Financial Inc. now owns 482,130 shares of the biotechnology company’s stock worth $1,398,000 after purchasing an additional 466,826 shares in the last quarter. Citigroup Inc. raised its holdings in PDL BioPharma by 115.6% during the fourth quarter. Citigroup Inc. now owns 581,602 shares of the biotechnology company’s stock worth $1,687,000 after purchasing an additional 311,843 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in PDL BioPharma during the third quarter worth approximately $536,000. 93.10% of the stock is currently owned by institutional investors.
PDLI stock opened at $3.58 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 9.50 and a current ratio of 9.86. The company has a market cap of $458.63 million, a price-to-earnings ratio of 9.68 and a beta of 0.59. PDL BioPharma Inc has a twelve month low of $2.25 and a twelve month high of $3.89.
PDL BioPharma (NASDAQ:PDLI) last announced its earnings results on Thursday, March 14th. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $45.12 million for the quarter. PDL BioPharma had a negative net margin of 34.76% and a positive return on equity of 6.76%. During the same quarter last year, the business posted $0.15 earnings per share. As a group, analysts predict that PDL BioPharma Inc will post 0.25 earnings per share for the current year.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of PDL BioPharma from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. TheStreet raised shares of PDL BioPharma from a “d+” rating to a “c-” rating in a report on Wednesday, February 6th. ValuEngine cut shares of PDL BioPharma from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Finally, BidaskClub raised shares of PDL BioPharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 23rd. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $3.00.
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About PDL BioPharma
PDL BioPharma, Inc acquires, manages, and commercializes commercial stage pharmaceutical assets and late clinical stage pharmaceutical products in the United States, Europe, and internationally. The company operates in three segments: Pharmaceutical, Medical Devices, and Income Generating Assets. The Pharmaceutical segment manufactures, markets, and sells prescription medicine products for the treatment of hypertension to wholesalers under the Tekturna and Tekturna HCT names in the United States, as well as under the Rasilez and Rasilez HCT names internationally.
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