PDL BioPharma, Inc. (PDLI) Given Average Recommendation of “Hold” by Brokerages
Shares of PDL BioPharma, Inc. (NASDAQ:PDLI) have received an average recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $3.50.
Several research analysts have commented on the stock. BidaskClub cut shares of PDL BioPharma from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Piper Jaffray Companies reiterated a “buy” rating and issued a $4.00 target price on shares of PDL BioPharma in a report on Thursday, August 10th. ValuEngine cut shares of PDL BioPharma from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of PDL BioPharma from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Wednesday, August 16th.
Several hedge funds have recently bought and sold shares of PDLI. Teachers Advisors LLC boosted its holdings in shares of PDL BioPharma by 17.2% during the fourth quarter. Teachers Advisors LLC now owns 299,746 shares of the biotechnology company’s stock worth $635,000 after purchasing an additional 43,922 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of PDL BioPharma by 12.9% during the first quarter. Russell Investments Group Ltd. now owns 2,185,731 shares of the biotechnology company’s stock worth $4,961,000 after purchasing an additional 249,671 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of PDL BioPharma by 43.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,948 shares of the biotechnology company’s stock worth $104,000 after purchasing an additional 14,000 shares during the period. Karp Capital Management Corp acquired a new stake in shares of PDL BioPharma during the first quarter worth approximately $783,000. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of PDL BioPharma by 0.9% during the first quarter. Parametric Portfolio Associates LLC now owns 1,628,158 shares of the biotechnology company’s stock worth $3,696,000 after purchasing an additional 14,039 shares during the period. Institutional investors and hedge funds own 83.35% of the company’s stock.
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PDL BioPharma (NASDAQ PDLI) traded down 3.06% during trading on Friday, hitting $3.17. 1,818,165 shares of the stock were exchanged. PDL BioPharma has a 12-month low of $1.93 and a 12-month high of $3.77. The firm has a market cap of $488.43 million, a PE ratio of 7.29 and a beta of 0.49. The stock’s 50-day moving average price is $2.87 and its 200-day moving average price is $2.44.
PDL BioPharma (NASDAQ:PDLI) last announced its earnings results on Thursday, August 3rd. The biotechnology company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.09 by $0.17. PDL BioPharma had a net margin of 23.03% and a return on equity of 9.07%. The company had revenue of $143.80 million during the quarter, compared to analysts’ expectations of $56.30 million. During the same period last year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was up 584.8% on a year-over-year basis. On average, equities analysts expect that PDL BioPharma will post $0.61 EPS for the current year.
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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