PDL BioPharma Inc (NASDAQ:PDLI) was down 5.5% on Wednesday . The company traded as low as $2.90 and last traded at $2.93, approximately 2,069,500 shares changed hands during trading. An increase of 50% from the average daily volume of 1,376,877 shares. The stock had previously closed at $3.10.
Several equities analysts have recently issued reports on the company. BidaskClub raised PDL BioPharma from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine upgraded PDL BioPharma from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $3.13.
The company has a current ratio of 9.94, a quick ratio of 9.43 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $2.87 and a 200 day simple moving average of $2.75. The firm has a market cap of $336.85 million, a PE ratio of 7.97 and a beta of 0.67.
PDL BioPharma (NASDAQ:PDLI) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The business had revenue of $44.17 million for the quarter. PDL BioPharma had a negative net margin of 32.13% and a positive return on equity of 6.71%. On average, equities analysts expect that PDL BioPharma Inc will post -0.07 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in PDLI. JPMorgan Chase & Co. increased its holdings in PDL BioPharma by 4.1% in the second quarter. JPMorgan Chase & Co. now owns 132,775 shares of the biotechnology company’s stock valued at $405,000 after buying an additional 5,257 shares in the last quarter. United Services Automobile Association increased its stake in shares of PDL BioPharma by 6.5% in the 2nd quarter. United Services Automobile Association now owns 86,296 shares of the biotechnology company’s stock valued at $271,000 after purchasing an additional 5,273 shares in the last quarter. Swiss National Bank increased its stake in shares of PDL BioPharma by 2.1% in the 2nd quarter. Swiss National Bank now owns 271,700 shares of the biotechnology company’s stock valued at $853,000 after purchasing an additional 5,600 shares in the last quarter. Strs Ohio raised its holdings in PDL BioPharma by 3.4% in the 2nd quarter. Strs Ohio now owns 199,900 shares of the biotechnology company’s stock worth $627,000 after purchasing an additional 6,600 shares during the period. Finally, Virginia Retirement Systems ET AL raised its holdings in PDL BioPharma by 7.8% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 124,700 shares of the biotechnology company’s stock worth $392,000 after purchasing an additional 9,000 shares during the period. 87.03% of the stock is currently owned by hedge funds and other institutional investors.
PDL BioPharma Company Profile (NASDAQ:PDLI)
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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