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Shares of PDL BioPharma (NASDAQ:PDLI) were the recipient of a significant decline in short interest in June. As of June 13th, there was short interest totalling 30,835,251 shares, a decline of 2.6% from the May 30th total of 31,649,801 shares, Stock Ratings reports. Based on an average trading volume of 2,176,258 shares, the days-to-cover ratio is currently 14.2 days. Approximately 21.3% of the company’s stock are short sold.

Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of PDL BioPharma in a research note on Wednesday, May 14th. They now have a $9.00 price target on the stock.

Shares of PDL BioPharma (NASDAQ:PDLI) opened at 9.68 on Tuesday. PDL BioPharma has a 52-week low of $7.38 and a 52-week high of $10.21. The stock has a 50-day moving average of $9.37 and a 200-day moving average of $8.70. The company has a market cap of $1.555 billion and a P/E ratio of 5.56.

PDL BioPharma (NASDAQ:PDLI) last announced its earnings results on Monday, May 12th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.45 by $0.01. The company had revenue of $139.70 million for the quarter, compared to the consensus estimate of $130.93 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 52.2% on a year-over-year basis. On average, analysts predict that PDL BioPharma will post $2.06 earnings per share for the current fiscal year.

PDL BioPharma, Inc (NASDAQ:PDLI) is a is a biotech company.

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