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.
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.
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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