PDL BioPharma Inc. (PDLI) Shares Down 2.7%
PDL BioPharma Inc. (NASDAQ:PDLI)’s share price traded down 2.7% on Friday . The company traded as low as $2.85 and last traded at $2.86, with a volume of 832,501 shares traded. The stock had previously closed at $2.94.
A number of equities analysts have recently weighed in on the company. Cowen and Company reaffirmed a “hold” rating on shares of PDL BioPharma in a research note on Sunday, April 17th. Zacks Investment Research raised PDL BioPharma from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th.
The company has a 50 day moving average price of $3.28 and a 200-day moving average price of $3.25. The stock has a market cap of $470.13 million and a P/E ratio of 2.02.
PDL BioPharma (NASDAQ:PDLI) last issued its earnings results on Thursday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.01. The firm earned $21 million during the quarter, compared to analysts’ expectations of $33.46 million. The business’s revenue was down 84.8% on a year-over-year basis. During the same quarter last year, the business earned $0.47 EPS. Analysts anticipate that PDL BioPharma Inc. will post $0.54 EPS for the current fiscal year.
In other news, VP Peter S. Garcia bought 10,000 shares of PDL BioPharma stock in a transaction that occurred on Tuesday, August 9th. The stock was bought at an average price of $3.00 per share, for a total transaction of $30,000.00. Following the purchase, the vice president now directly owns 232,092 shares of the company’s stock, valued at approximately $696,276. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Other institutional investors have recently modified their holdings of the company. KBC Group NV raised its position 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 period. Dimensional Fund Advisors LP raised 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 worth $10,237,000 after buying an additional 140,239 shares during the last quarter. I.G. Investment Management LTD. bought a new position in PDL BioPharma during the fourth quarter worth $7,052,000. Finally, Systematic Financial Management LP raised 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 worth $1,665,000 after buying an additional 64,580 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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