PDL BioPharma Inc (PDLI) Given Consensus Recommendation of “Hold” by Brokerages

Shares of PDL BioPharma Inc (NASDAQ:PDLI) have received an average rating of “Hold” from the six analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $3.25.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised PDL BioPharma from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research report on Wednesday, March 14th. TheStreet raised PDL BioPharma from a “d+” rating to a “c-” rating in a research report on Friday, March 9th. Cowen reissued a “hold” rating and set a $2.50 target price on shares of PDL BioPharma in a research report on Thursday, June 14th. Finally, BidaskClub raised PDL BioPharma from a “sell” rating to a “hold” rating in a research report on Friday, April 6th.

PDLI stock traded up $0.02 during mid-day trading on Tuesday, reaching $2.32. The company had a trading volume of 57,614 shares, compared to its average volume of 2,194,423. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.03 and a quick ratio of 9.75. The firm has a market capitalization of $357.02 million, a P/E ratio of 3.68 and a beta of 0.32. PDL BioPharma has a fifty-two week low of $2.15 and a fifty-two week high of $3.55.

PDL BioPharma (NASDAQ:PDLI) last posted its quarterly earnings results on Wednesday, May 9th. The biotechnology company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $38.52 million for the quarter. PDL BioPharma had a return on equity of 11.76% and a net margin of 33.57%. analysts expect that PDL BioPharma will post 0.22 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Spark Investment Management LLC acquired a new stake in shares of PDL BioPharma during the 4th quarter worth about $142,000. KBC Group NV raised its position in shares of PDL BioPharma by 180.6% during the 4th quarter. KBC Group NV now owns 320,456 shares of the biotechnology company’s stock worth $878,000 after acquiring an additional 206,272 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of PDL BioPharma by 27.1% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 458,960 shares of the biotechnology company’s stock worth $1,258,000 after acquiring an additional 97,940 shares in the last quarter. BlackRock Inc. raised its position in shares of PDL BioPharma by 5.1% during the 4th quarter. BlackRock Inc. now owns 14,711,963 shares of the biotechnology company’s stock worth $40,311,000 after acquiring an additional 713,150 shares in the last quarter. Finally, Systematic Financial Management LP raised its position in shares of PDL BioPharma by 20.4% during the 4th quarter. Systematic Financial Management LP now owns 600,525 shares of the biotechnology company’s stock worth $1,645,000 after acquiring an additional 101,695 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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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