PDL BioPharma, Inc. (NASDAQ:PDLI) has been given an average recommendation of “Buy” by the six brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $3.33.

A number of research analysts have recently commented on PDLI shares. ValuEngine lowered shares of PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. BidaskClub lowered shares of PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Cowen and Company reissued a “hold” rating and issued a $3.00 price target on shares of PDL BioPharma in a research report on Friday, October 27th. 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 research report on Wednesday, August 16th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $4.00 price target on shares of PDL BioPharma in a research report on Thursday, August 10th.

PDL BioPharma (NASDAQ:PDLI) traded up $0.01 during mid-day trading on Monday, reaching $3.04. 1,403,800 shares of the company’s stock were exchanged, compared to its average volume of 1,848,308. The company has a market capitalization of $468.40, a PE ratio of 6.33 and a beta of 0.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.94 and a quick ratio of 1.90. PDL BioPharma has a one year low of $1.93 and a one year high of $3.77.

PDL BioPharma (NASDAQ:PDLI) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. The business had revenue of $62.75 million during the quarter, compared to analyst estimates of $61.86 million. PDL BioPharma had a net margin of 24.51% and a return on equity of 9.33%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share. equities analysts forecast that PDL BioPharma will post 0.69 earnings per share for the current fiscal year.

PDL BioPharma announced that its Board of Directors has authorized a stock buyback program on Monday, September 25th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the biotechnology company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

A number of institutional investors have recently modified their holdings of the business. Kestrel Investment Management Corp bought a new stake in shares of PDL BioPharma during the second quarter valued at approximately $4,293,000. Seizert Capital Partners LLC grew its stake in shares of PDL BioPharma by 5.9% during the second quarter. Seizert Capital Partners LLC now owns 1,262,960 shares of the biotechnology company’s stock valued at $3,120,000 after purchasing an additional 70,874 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of PDL BioPharma by 6.0% during the second quarter. Goldman Sachs Group Inc. now owns 1,041,308 shares of the biotechnology company’s stock valued at $2,572,000 after purchasing an additional 59,311 shares during the last quarter. Alps Advisors Inc. grew its stake in shares of PDL BioPharma by 9.9% during the second quarter. Alps Advisors Inc. now owns 281,646 shares of the biotechnology company’s stock valued at $696,000 after purchasing an additional 25,472 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of PDL BioPharma by 25.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,877,105 shares of the biotechnology company’s stock valued at $7,107,000 after purchasing an additional 584,481 shares during the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

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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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