ValuEngine Upgrades PDL BioPharma, Inc. (NASDAQ:PDLI) to Buy
ValuEngine upgraded shares of PDL BioPharma, Inc. (NASDAQ:PDLI) from a hold rating to a buy rating in a report issued on Friday.
A number of other research analysts have also recently weighed in on the company. Zacks Investment Research upgraded PDL BioPharma from a sell rating to a hold rating in a report on Monday, May 15th. Cowen and Company reissued a hold rating on shares of PDL BioPharma in a research report on Wednesday, May 3rd. Finally, BidaskClub lowered PDL BioPharma from a strong-buy rating to a buy rating in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. PDL BioPharma currently has an average rating of Hold and an average price target of $3.50.
Shares of PDL BioPharma (NASDAQ PDLI) traded up 10.14% during midday trading on Friday, reaching $2.39. The company’s stock had a trading volume of 8,634,999 shares. PDL BioPharma has a 52 week low of $1.93 and a 52 week high of $3.77. The firm’s 50 day moving average is $2.41 and its 200 day moving average is $2.28. The firm has a market capitalization of $384.75 million, a price-to-earnings ratio of 26.26 and a beta of 0.58.
PDL BioPharma (NASDAQ:PDLI) last issued its earnings results on Thursday, August 3rd. The biotechnology company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.17. PDL BioPharma had a return on equity of 9.25% and a net margin of 23.03%. The firm had revenue of $143.80 million for the quarter, compared to analysts’ expectations of $56.30 million. During the same quarter last year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 584.8% compared to the same quarter last year. Equities analysts forecast that PDL BioPharma will post $0.26 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nine Chapters Capital Management LLC raised its position in PDL BioPharma by 52.9% in the first quarter. Nine Chapters Capital Management LLC now owns 183,000 shares of the biotechnology company’s stock valued at $415,000 after buying an additional 63,300 shares during the period. Parametric Portfolio Associates LLC raised its position in PDL BioPharma by 0.9% in the first quarter. Parametric Portfolio Associates LLC now owns 1,628,158 shares of the biotechnology company’s stock valued at $3,696,000 after buying an additional 14,039 shares during the period. Karp Capital Management Corp bought a new position in PDL BioPharma during the first quarter valued at approximately $783,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in PDL BioPharma by 43.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,948 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 14,000 shares during the period. Finally, HPM Partners LLC bought a new position in PDL BioPharma during the first quarter valued at approximately $163,000. 84.21% of the stock is currently owned by institutional investors.
PDL BioPharma Company Profile
PDL BioPharma, Inc seeks to provide return for its shareholders by acquiring and managing a portfolio of companies, products, royalty agreements and debt facilities in the biotechnology, pharmaceutical and medical device industries. The Company’s segments include income generating assets and product sales.
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