BidaskClub upgraded shares of PDL BioPharma (NASDAQ:PDLI) from a strong sell rating to a sell rating in a research note released on Friday.
Other equities research analysts have also issued research reports about the company. ValuEngine raised PDL BioPharma from a hold rating to a buy rating in a research report on Saturday, November 25th. Zacks Investment Research lowered PDL BioPharma from a buy rating to a hold rating in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $3.33.
Shares of PDL BioPharma (NASDAQ PDLI) opened at $3.04 on Friday. The company has a market capitalization of $469.19, a PE ratio of 4.68 and a beta of 0.58. The company has a current ratio of 3.16, a quick ratio of 3.10 and a debt-to-equity ratio of 0.14. PDL BioPharma has a 1 year low of $1.96 and a 1 year high of $3.55.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC acquired a new stake in shares of PDL BioPharma during the fourth quarter worth about $212,000. Municipal Employees Retirement System of Michigan raised its position in shares of PDL BioPharma by 27.1% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 458,960 shares of the biotechnology company’s stock worth $1,258,000 after purchasing an additional 97,940 shares during the period. Macquarie Group Ltd. raised its position in shares of PDL BioPharma by 16.7% during the fourth quarter. Macquarie Group Ltd. now owns 293,040 shares of the biotechnology company’s stock worth $803,000 after purchasing an additional 41,900 shares during the period. Jane Street Group LLC acquired a new stake in shares of PDL BioPharma during the fourth quarter worth about $142,000. Finally, Paloma Partners Management Co raised its position in shares of PDL BioPharma by 151.6% during the fourth quarter. Paloma Partners Management Co now owns 78,394 shares of the biotechnology company’s stock worth $215,000 after purchasing an additional 47,239 shares during the period. 91.19% of the stock is currently owned by institutional investors.
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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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