PDL BioPharma (NASDAQ:PDLI) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Several other equities analysts also recently commented on the company. ValuEngine raised PDL BioPharma from a “hold” rating to a “buy” rating in a research report on Saturday, November 25th. Cowen reaffirmed a “hold” rating and issued a $3.00 target price on shares of PDL BioPharma in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $3.33.

PDL BioPharma (PDLI) traded down $0.03 during trading hours on Friday, reaching $2.84. The company’s stock had a trading volume of 953,762 shares, compared to its average volume of 1,275,442. The company has a quick ratio of 3.10, a current ratio of 3.16 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $442.95, a price-to-earnings ratio of 5.57 and a beta of 0.45. PDL BioPharma has a 12-month low of $1.96 and a 12-month high of $3.55.

PDL BioPharma (NASDAQ:PDLI) last released its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. PDL BioPharma had a return on equity of 9.20% and a net margin of 24.51%. The firm had revenue of $62.75 million for the quarter, compared to analyst estimates of $61.86 million. During the same quarter in the prior year, the company earned $0.08 earnings per share. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. equities research analysts forecast that PDL BioPharma will post 0.67 earnings per share for the current fiscal year.

PDL BioPharma declared that its board has approved a stock repurchase plan on Monday, September 25th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the biotechnology company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Several institutional investors have recently bought and sold shares of the company. Systematic Financial Management LP grew its position in shares of PDL BioPharma by 0.4% in the second quarter. Systematic Financial Management LP now owns 714,640 shares of the biotechnology company’s stock valued at $1,765,000 after purchasing an additional 2,585 shares during the last quarter. Nationwide Fund Advisors grew its position in shares of PDL BioPharma by 4.7% in the second quarter. Nationwide Fund Advisors now owns 109,961 shares of the biotechnology company’s stock valued at $272,000 after purchasing an additional 4,900 shares during the last quarter. Airain ltd grew its position in shares of PDL BioPharma by 21.0% in the second quarter. Airain ltd now owns 56,911 shares of the biotechnology company’s stock valued at $141,000 after purchasing an additional 9,893 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of PDL BioPharma by 18.4% in the second quarter. Public Employees Retirement System of Ohio now owns 65,612 shares of the biotechnology company’s stock valued at $162,000 after purchasing an additional 10,189 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in shares of PDL BioPharma by 15.7% in the second quarter. Voya Investment Management LLC now owns 82,612 shares of the biotechnology company’s stock valued at $204,000 after purchasing an additional 11,235 shares during the last quarter. 88.37% of the stock is currently owned by institutional investors.

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PDL BioPharma Company Profile

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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