PDL BioPharma Inc (PDLI) Receives Average Recommendation of “Hold” from Brokerages

Shares of PDL BioPharma Inc (NASDAQ:PDLI) have earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $3.50.

PDLI has been the subject of several recent analyst reports. ValuEngine raised shares of PDL BioPharma from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Cowen reaffirmed a “hold” rating and issued a $3.00 target price on shares of PDL BioPharma in a report on Friday, October 27th. BidaskClub cut shares of PDL BioPharma from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Finally, Zacks Investment Research cut shares of PDL BioPharma from a “buy” rating to a “hold” rating in a report on Monday, January 8th.

Shares of PDL BioPharma (NASDAQ:PDLI) remained flat at $$2.91 during midday trading on Friday. 932,479 shares of the stock were exchanged, compared to its average volume of 1,290,000. PDL BioPharma has a twelve month low of $1.96 and a twelve month high of $3.55. The company has a market capitalization of $449.13, a PE ratio of 5.82 and a beta of 0.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.10 and a current ratio of 3.16.

PDL BioPharma (NASDAQ:PDLI) last issued its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. PDL BioPharma had a net margin of 24.51% and a return on equity of 9.20%. The company had revenue of $62.75 million during the quarter, compared to analysts’ expectations of $61.86 million. During the same period last year, the company posted $0.08 EPS. PDL BioPharma’s revenue was up 17.0% on a year-over-year basis. analysts expect that PDL BioPharma will post 0.67 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. OxFORD Asset Management LLP bought a new stake in PDL BioPharma during the third quarter valued at approximately $359,000. Municipal Employees Retirement System of Michigan bought a new position in shares of PDL BioPharma in the third quarter worth approximately $1,224,000. Goldman Sachs Group Inc. boosted its position in shares of PDL BioPharma by 6.0% in the second quarter. Goldman Sachs Group Inc. now owns 1,041,308 shares of the biotechnology company’s stock worth $2,572,000 after purchasing an additional 59,311 shares during the period. California Public Employees Retirement System boosted its position in shares of PDL BioPharma by 12.2% in the third quarter. California Public Employees Retirement System now owns 1,085,093 shares of the biotechnology company’s stock worth $3,678,000 after purchasing an additional 117,993 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of PDL BioPharma by 39.0% in the third quarter. Mackenzie Financial Corp now owns 5,074,015 shares of the biotechnology company’s stock worth $17,201,000 after purchasing an additional 1,423,471 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This piece of content was posted by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/01/27/pdl-biopharma-inc-pdli-receives-average-recommendation-of-hold-from-brokerages.html.

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.

Receive News & Ratings for PDL BioPharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDL BioPharma and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply