PDL BioPharma Inc. (PDLI) Stock Price Down 2.5%
PDL BioPharma Inc. (NASDAQ:PDLI) fell 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 traded. The stock had previously closed at $3.18.
Several brokerages recently commented on PDLI. Cowen and Company reiterated a “hold” rating on shares of PDL BioPharma in a research note on Sunday, April 17th. Zacks Investment Research upgraded shares of PDL BioPharma from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th.
The company’s 50-day moving average price is $3.22 and its 200-day moving average price is $3.25. The firm has a market cap of $541.57 million and a P/E ratio of 1.77.
PDL BioPharma (NASDAQ:PDLI) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. During the same period in the previous year, the company earned $0.50 EPS. The business earned $103.10 million during the quarter, compared to analyst estimates of $142.05 million. PDL BioPharma’s revenue was down 31.1% on a year-over-year basis. Equities research analysts anticipate that PDL BioPharma Inc. will post $0.46 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 13th. Stockholders of record on Monday, June 6th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 6.10%. The ex-dividend date of this dividend was Thursday, June 2nd.
Other large investors have added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in PDL BioPharma by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,891,641 shares of the company’s stock valued at $10,237,000 after buying an additional 140,239 shares during the last quarter. I.G. Investment Management LTD. purchased a new position in shares of PDL BioPharma during the fourth quarter valued at $7,052,000. Systematic Financial Management LP increased its position in shares of PDL BioPharma by 15.9% in the fourth quarter. Systematic Financial Management LP now owns 470,500 shares of the company’s stock valued at $1,665,000 after buying an additional 64,580 shares during the period. GSA Capital Partners LLP increased 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. Finally, Robeco Institutional Asset Management B.V. increased 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.
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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