PDL BioPharma Inc. (PDLI) Trading Down 14.7%
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 changing hands. The stock had previously closed at $3.54.
Several research analysts have weighed in on the stock. Cowen and Company reissued a “hold” rating on shares of PDL BioPharma in a report on Sunday, April 17th. Zacks Investment Research raised shares of PDL BioPharma from a “sell” rating to a “hold” rating in a report on Thursday, June 2nd.
The firm has a market cap of $498.64 million and a PE ratio of 1.63. The stock has a 50-day moving average price of $3.30 and a 200 day moving average price of $3.26.
PDL BioPharma (NASDAQ:PDLI) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. During the same quarter in the prior year, the business earned $0.47 earnings per share. The business had revenue of $21 million for the quarter, compared to analyst estimates of $33.46 million. The firm’s quarterly revenue was down 84.8% compared to the same quarter last year. Equities research analysts expect that PDL BioPharma Inc. will post $0.54 earnings per share for the current year.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted 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 valued at $1,076,000 after buying an additional 5,377 shares during the period. KBC Group NV boosted its position 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 during the period. Systematic Financial Management LP boosted its position 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 during the period. Dimensional Fund Advisors LP boosted its position 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 period. Finally, I.G. Investment Management LTD. purchased a new position in PDL BioPharma during the fourth quarter valued at $7,052,000.
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.