PDL BioPharma, Inc. (PDLI) Rating Increased to Hold at BidaskClub

PDL BioPharma, Inc. (NASDAQ:PDLI) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday.

PDLI has been the subject of several other research reports. Zacks Investment Research upgraded PDL BioPharma from a “sell” rating to a “hold” rating in a report on Monday, May 15th. ValuEngine upgraded PDL BioPharma from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Cowen and Company reiterated a “hold” rating on shares of PDL BioPharma in a report on Wednesday, May 3rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $4.00 price objective on shares of PDL BioPharma in a report on Thursday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $3.50.

Shares of PDL BioPharma (NASDAQ PDLI) traded up 4.054% during midday trading on Friday, reaching $2.695. The company’s stock had a trading volume of 930,972 shares. The company’s 50-day moving average price is $2.43 and its 200 day moving average price is $2.28. The company has a market capitalization of $415.25 million, a P/E ratio of 6.195 and a beta of 0.58. PDL BioPharma has a 12-month low of $1.93 and a 12-month high of $3.77.

PDL BioPharma (NASDAQ:PDLI) last released its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.17. PDL BioPharma had a return on equity of 9.07% and a net margin of 23.03%. The business had revenue of $143.80 million during the quarter, compared to analysts’ expectations of $56.30 million. During the same quarter last year, the business posted $0.09 EPS. The business’s revenue was up 584.8% on a year-over-year basis. On average, equities research analysts forecast that PDL BioPharma will post $0.47 earnings per share for the current year.

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A number of large investors have recently added to or reduced their stakes in PDLI. FMR LLC boosted its stake in PDL BioPharma by 14.3% in the fourth quarter. FMR LLC now owns 934,050 shares of the biotechnology company’s stock valued at $1,980,000 after buying an additional 116,700 shares during the period. Dimensional Fund Advisors LP boosted its stake in PDL BioPharma by 15.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,282,180 shares of the biotechnology company’s stock valued at $9,078,000 after buying an additional 582,265 shares during the period. HPM Partners LLC acquired a new stake in PDL BioPharma during the first quarter valued at $163,000. Seizert Capital Partners LLC acquired a new stake in PDL BioPharma during the first quarter valued at $2,706,000. Finally, Norges Bank acquired a new stake in PDL BioPharma during the fourth quarter valued at $5,068,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

About PDL BioPharma

PDL BioPharma, Inc seeks to provide return for its shareholders by acquiring and managing a portfolio of companies, products, royalty agreements and debt facilities in the biotechnology, pharmaceutical and medical device industries. The Company’s segments include income generating assets and product sales.

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