PDL BioPharma Inc. (NASDAQ:PDLI) was up 2.2% during trading on Friday . The stock traded as high as $2.85 and last traded at $2.80, with a volume of 646,016 shares. The stock had previously closed at $2.74.

Several equities research analysts have commented on PDLI shares. Zacks Investment Research raised shares of PDL BioPharma from a “sell” rating to a “hold” rating in a research report on Thursday, June 2nd. Cowen and Company reissued a “hold” rating and set a $3.50 price target on shares of PDL BioPharma in a research report on Sunday, August 7th.

The stock’s 50 day moving average price is $3.19 and its 200 day moving average price is $3.24. The stock has a market cap of $473.44 million and a P/E ratio of 2.03.

PDL BioPharma (NASDAQ:PDLI) last announced its earnings results on Thursday, August 4th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $21 million for the quarter, compared to the consensus estimate of $33.46 million. During the same period in the prior year, the business earned $0.47 EPS. PDL BioPharma’s quarterly revenue was down 84.8% on a year-over-year basis. Equities analysts predict that PDL BioPharma Inc. will post $0.51 earnings per share for the current year.

In other news, VP Peter S. Garcia bought 10,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was acquired at an average price of $3.00 per share, with a total value of $30,000.00. Following the completion of the purchase, the vice president now directly owns 232,092 shares of the company’s stock, valued at $696,276. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

A hedge fund recently bought a new stake in PDL BioPharma stock. I.G. Investment Management LTD. bought a new position in PDL BioPharma Inc. (NASDAQ:PDLI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,992,000 shares of the company’s stock, valued at approximately $7,052,000. I.G. Investment Management LTD. owned about 1.22% of PDL BioPharma at the end of the most recent reporting period.

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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