BidaskClub downgraded shares of PDL BioPharma, Inc. (NASDAQ:PDLI) from a hold rating to a sell rating in a report published on Friday.

Several other equities analysts have also weighed in on the company. ValuEngine lowered PDL BioPharma from a buy rating to a hold rating in a research note on Friday, June 2nd. Zacks Investment Research raised PDL BioPharma from a sell rating to a hold rating in a research note on Monday, May 15th. Finally, Cowen and Company reissued a hold rating on shares of PDL BioPharma in a research note on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $3.50.

PDL BioPharma (NASDAQ PDLI) opened at 2.59 on Friday. The company has a 50-day moving average price of $2.41 and a 200-day moving average price of $2.28. The stock has a market cap of $416.95 million, a PE ratio of 28.46 and a beta of 0.58. PDL BioPharma has a 52 week low of $1.93 and a 52 week high of $3.77.

PDL BioPharma (NASDAQ:PDLI) last released its earnings results on Thursday, August 3rd. The biotechnology company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.17. PDL BioPharma had a return on equity of 9.07% and a net margin of 23.03%. The firm had revenue of $143.80 million for the quarter, compared to analyst estimates of $56.30 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The company’s quarterly revenue was up 584.8% on a year-over-year basis. Analysts anticipate that PDL BioPharma will post $0.26 earnings per share for the current year.

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Several large investors have recently made changes to their positions in PDLI. Eqis Capital Management Inc. increased its stake in shares of PDL BioPharma by 0.5% in the second quarter. Eqis Capital Management Inc. now owns 232,933 shares of the biotechnology company’s stock valued at $575,000 after buying an additional 1,125 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of PDL BioPharma by 1.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 118,076 shares of the biotechnology company’s stock valued at $250,000 after buying an additional 1,239 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of PDL BioPharma by 15.3% in the first quarter. Public Employees Retirement System of Ohio now owns 55,423 shares of the biotechnology company’s stock valued at $126,000 after buying an additional 7,336 shares during the period. Teachers Advisors LLC increased its stake in shares of PDL BioPharma by 3.9% in the first quarter. Teachers Advisors LLC now owns 311,539 shares of the biotechnology company’s stock valued at $707,000 after buying an additional 11,793 shares during the period. Finally, Credit Agricole S A increased its stake in shares of PDL BioPharma by 34.9% in the first quarter. Credit Agricole S A now owns 50,000 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 12,942 shares during the period. Institutional investors own 83.72% of the company’s stock.

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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