PDL BioPharma Inc. (NASDAQ:PDLI) shares traded down 14.7% on Friday . The stock traded as low as $2.87 and last traded at $3.02, with a volume of 3,666,423 shares. The stock had previously closed at $3.54.

Several research analysts have weighed in on the company. Zacks Investment Research raised PDL BioPharma from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Cowen and Company reaffirmed a “hold” rating and set a $3.50 price target on shares of PDL BioPharma in a research report on Sunday.

The company has a 50-day moving average of $3.29 and a 200 day moving average of $3.25. The firm has a market capitalization of $498.64 million and a P/E ratio of 1.63.

PDL BioPharma (NASDAQ:PDLI) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.01. The company earned $21 million during the quarter, compared to the consensus estimate of $33.46 million. During the same period in the previous year, the business earned $0.47 earnings per share. PDL BioPharma’s revenue was down 84.8% on a year-over-year basis. Analysts anticipate that PDL BioPharma Inc. will post $0.54 earnings per share for the current fiscal year.

Other institutional investors recently bought and sold shares of the company. California State Teachers Retirement System raised its position in PDL BioPharma by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 304,070 shares of the company’s stock worth $1,076,000 after buying an additional 5,377 shares during the last quarter. KBC Group NV raised its stake in PDL BioPharma by 3.0% in the fourth quarter. KBC Group NV now owns 456,616 shares of the company’s stock valued at $1,616,000 after buying an additional 13,229 shares in the last quarter. Systematic Financial Management LP raised its stake in 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 in the last quarter. I.G. Investment Management LTD. acquired a new stake in PDL BioPharma during the fourth quarter valued at about $7,052,000. Finally, 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 in the last quarter.

PDL BioPharma, Inc, formerly Protein Design Labs, 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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