PDL BioPharma Inc. (NASDAQ:PDLI) has been assigned a consensus broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating.
Brokers have set a 1 year consensus target price of $3.75 for the company and are forecasting that the company will post $0.14 earnings per share for the current quarter, according to Zacks. Zacks has also assigned PDL BioPharma an industry rank of 108 out of 265 based on the ratings given to its competitors.
PDLI has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of PDL BioPharma from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research report on Thursday, August 25th. Cowen and Company restated a “hold” rating and set a $3.50 target price on shares of PDL BioPharma in a research report on Sunday, August 7th.
PDL BioPharma (NASDAQ:PDLI) opened at 3.21 on Wednesday. The stock has a market cap of $531.38 million, a price-to-earnings ratio of 2.28 and a beta of 0.71. PDL BioPharma has a 52 week low of $2.58 and a 52 week high of $5.35. The firm’s 50-day moving average is $3.12 and its 200 day moving average is $3.25.
PDL BioPharma (NASDAQ:PDLI) last issued its earnings results on Thursday, August 4th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $21 million for the quarter, compared to analyst estimates of $33.46 million. PDL BioPharma had a net margin of 53.90% and a return on equity of 38.94%. The business’s revenue was down 84.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. On average, equities research analysts expect that PDL BioPharma will post $0.51 EPS for the current year.
In other news, VP Peter S. Garcia purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was acquired at an average price of $3.00 per share, with a total value of $30,000.00. Following the purchase, the vice president now directly owns 232,092 shares of the company’s stock, valued at approximately $696,276. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in PDL BioPharma by 23.0% in the first quarter. Renaissance Technologies LLC now owns 12,724,354 shares of the company’s stock valued at $42,372,000 after buying an additional 2,378,795 shares during the period. Vanguard Group Inc. increased its position in PDL BioPharma by 5.2% in the second quarter. Vanguard Group Inc. now owns 11,399,443 shares of the company’s stock valued at $35,794,000 after buying an additional 561,405 shares during the period. Acadian Asset Management LLC increased its position in PDL BioPharma by 2.6% in the second quarter. Acadian Asset Management LLC now owns 6,235,824 shares of the company’s stock valued at $19,578,000 after buying an additional 156,534 shares during the period. BlackRock Fund Advisors increased its position in PDL BioPharma by 1.5% in the second quarter. BlackRock Fund Advisors now owns 5,996,693 shares of the company’s stock valued at $18,830,000 after buying an additional 86,207 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in PDL BioPharma by 5.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,173,024 shares of the company’s stock valued at $16,243,000 after buying an additional 250,137 shares during the period. 75.22% of the stock is owned by institutional investors and hedge funds.
About PDL BioPharma
PDL BioPharma, Inc, formerly Protein Design Labs, Inc, manages a portfolio of patents and royalty assets, consisting of its Queen et al. patents, license agreements with various biotechnology and pharmaceutical companies, and royalty and other assets acquired. The Company provides non-dilutive growth capital and financing solutions to late-stage public and private healthcare companies and offers immediate financial monetization of royalty streams to companies, academic institutions and inventors.
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