Shares of PDL BioPharma Inc. (NASDAQ:PDLI) saw unusually-high trading volume on Monday . Approximately 2,028,911 shares were traded during mid-day trading, an increase of 53% from the previous session’s volume of 1,326,258 shares.The stock last traded at $3.01 and had previously closed at $3.02.

PDLI has been the subject of a number of recent research reports. Cowen and Company reissued a “hold” rating and issued a $3.50 target price on shares of PDL BioPharma in a research note on Sunday. Zacks Investment Research raised PDL BioPharma from a “sell” rating to a “hold” rating in a research note on Thursday, June 2nd.

The company has a market capitalization of $496.14 million and a P/E ratio of 2.15. The firm’s 50 day moving average price is $3.29 and its 200-day moving average price is $3.26.

PDL BioPharma (NASDAQ:PDLI) last announced its 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. PDL BioPharma’s revenue for the quarter was down 84.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 earnings per share. On average, equities research analysts expect that PDL BioPharma Inc. will post $0.54 earnings per share for the current year.

A number of large investors have modified their holdings of the company. KBC Group NV raised its stake in shares of PDL BioPharma by 3.0% in the fourth quarter. KBC Group NV now owns 456,616 shares of the company’s stock worth $1,616,000 after buying an additional 13,229 shares during the last quarter. Systematic Financial Management LP raised its stake 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 worth $1,665,000 after buying an additional 64,580 shares during the last quarter. I.G. Investment Management LTD. acquired a new stake in shares of PDL BioPharma during the fourth quarter worth about $7,052,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of PDL BioPharma by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,891,641 shares of the company’s stock worth $10,237,000 after buying an additional 140,239 shares during 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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