PDL BioPharma Inc. (PDLI) Trading 2.2% Higher
PDL BioPharma Inc. (NASDAQ:PDLI)’s share price traded up 2.2% during mid-day trading on Friday . The stock traded as high as $2.85 and last traded at $2.80, with a volume of 646,016 shares trading hands. The stock had previously closed at $2.74.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of PDL BioPharma from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Thursday. Cowen and Company reaffirmed a “hold” rating and issued a $3.50 target price on shares of PDL BioPharma in a research note on Sunday, August 7th.
The firm has a 50-day moving average price of $3.18 and a 200 day moving average price of $3.24. The company has a market capitalization of $473.44 million and a PE ratio of 2.03.
PDL BioPharma (NASDAQ:PDLI) last issued its earnings results on Thursday, August 4th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company earned $21 million during the quarter, compared to analyst estimates of $33.46 million. The business’s quarterly revenue was down 84.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 EPS. On average, equities research analysts predict that PDL BioPharma Inc. will post $0.51 earnings per share for the current year.
In related news, VP Peter S. Garcia bought 10,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were purchased at an average price of $3.00 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the vice president now directly owns 232,092 shares of the company’s stock, valued at approximately $696,276. The acquisition was disclosed in a filing with the SEC, 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 shares of PDL BioPharma Inc. (NASDAQ:PDLI) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 1,992,000 shares of the company’s stock, valued at approximately $7,052,000. I.G. Investment Management LTD. owned approximately 1.22% of PDL BioPharma as of its most recent filing with the SEC.
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.