PDL BioPharma Inc. (PDLI) Stock Price Down 2.5%
PDL BioPharma Inc. (NASDAQ:PDLI) shares traded down 2.5% during trading on Thursday . The stock traded as low as $3.10 and last traded at $3.10, with a volume of 423,822 shares. The stock had previously closed at $3.18.
A number of analysts have issued reports on the company. Cowen and Company reaffirmed a “hold” rating on shares of PDL BioPharma in a report on Sunday, April 17th. Zacks Investment Research raised PDL BioPharma from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th.
The stock has a 50 day moving average price of $3.21 and a 200 day moving average price of $3.26. The firm has a market capitalization of $525.06 million and a P/E ratio of 1.72.
PDL BioPharma (NASDAQ:PDLI) last issued its earnings results on Wednesday, May 4th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The firm earned $103.10 million during the quarter, compared to analysts’ expectations of $142.05 million. During the same period last year, the business posted $0.50 earnings per share. The company’s quarterly revenue was down 31.1% compared to the same quarter last year. On average, analysts predict that PDL BioPharma Inc. will post $0.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 13th. Investors of record on Monday, June 6th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 6.29%. The ex-dividend date was Thursday, June 2nd.
Several hedge funds and institutional investors have recently modified their holdings of PDLI. I.G. Investment Management LTD. purchased a new position in shares of PDL BioPharma during the fourth quarter valued at $7,052,000. Robeco Institutional Asset Management B.V. raised its position in shares of PDL BioPharma by 24.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,058,846 shares of the company’s stock valued at $10,827,000 after buying an additional 600,426 shares during the period. Numeric Investors LLC raised its position in shares of PDL BioPharma by 88.4% in the fourth quarter. Numeric Investors LLC now owns 1,014,340 shares of the company’s stock valued at $3,591,000 after buying an additional 475,940 shares during the period. DIAM Co. Ltd. raised its position in shares of PDL BioPharma by 121.2% in the fourth quarter. DIAM Co. Ltd. now owns 431,141 shares of the company’s stock valued at $1,526,000 after buying an additional 236,220 shares during the period. Finally, GSA Capital Partners LLP raised its position in shares of PDL BioPharma by 31.9% in the fourth quarter. GSA Capital Partners LLP now owns 941,736 shares of the company’s stock valued at $3,334,000 after buying an additional 228,013 shares during the period.
PDL BioPharma, Inc, manages a portfolio of patents and royalty assets, consisting of its Queen et al. patents, license agreements with various biotechnology and pharmaceutical companies, and royalty and other assets acquired. The Company provides non-dilutive growth capital and financing solutions to late-stage public and private healthcare companies and offers immediate financial monetization of royalty streams to companies, academic institutions, and inventors.
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