BidaskClub Lowers PDL BioPharma (NASDAQ:PDLI) to Sell

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BidaskClub lowered shares of PDL BioPharma (NASDAQ:PDLI) from a hold rating to a sell rating in a research note published on Saturday, BidAskClub reports.

Other research analysts have also issued research reports about the company. Zacks Investment Research raised PDL BioPharma from a sell rating to a hold rating and set a $3.25 target price for the company in a report on Wednesday, May 29th. Cowen reaffirmed a hold rating on shares of PDL BioPharma in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $3.13.

Shares of PDLI opened at $2.82 on Friday. The business has a 50-day moving average price of $3.05. PDL BioPharma has a fifty-two week low of $2.25 and a fifty-two week high of $3.89. The stock has a market cap of $329.64 million, a price-to-earnings ratio of 7.62 and a beta of 0.66. The company has a current ratio of 11.02, a quick ratio of 10.67 and a debt-to-equity ratio of 0.18.

PDL BioPharma (NASDAQ:PDLI) last posted its earnings results on Thursday, May 9th. The biotechnology company reported $0.08 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.08. The business had revenue of $38.91 million during the quarter. PDL BioPharma had a positive return on equity of 6.86% and a negative net margin of 32.13%. During the same period in the previous year, the firm earned $0.01 EPS. As a group, sell-side analysts predict that PDL BioPharma will post 0.18 EPS for the current year.

In other PDL BioPharma news, major shareholder Pdl Biopharma, Inc. purchased 6,666,667 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was purchased at an average price of $4.50 per share, for a total transaction of $30,000,001.50. Following the transaction, the insider now owns 13,333,334 shares in the company, valued at approximately $60,000,003. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.20% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of PDL BioPharma by 12.8% during the 1st quarter. Bank of Montreal Can now owns 689,016 shares of the biotechnology company’s stock valued at $2,563,000 after acquiring an additional 78,030 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of PDL BioPharma by 211.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 161,610 shares of the biotechnology company’s stock valued at $386,000 after acquiring an additional 109,710 shares during the last quarter. WINTON GROUP Ltd boosted its position in shares of PDL BioPharma by 3.9% during the 2nd quarter. WINTON GROUP Ltd now owns 1,386,885 shares of the biotechnology company’s stock valued at $4,355,000 after acquiring an additional 51,942 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of PDL BioPharma by 45.0% during the 4th quarter. Principal Financial Group Inc. now owns 91,652 shares of the biotechnology company’s stock valued at $266,000 after acquiring an additional 28,434 shares during the last quarter. Finally, Dupont Capital Management Corp boosted its position in shares of PDL BioPharma by 55.1% during the 1st quarter. Dupont Capital Management Corp now owns 309,526 shares of the biotechnology company’s stock valued at $1,151,000 after acquiring an additional 109,978 shares during the last quarter. Hedge funds and other institutional investors own 96.41% of the company’s stock.

About PDL BioPharma

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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