Cubist Systematic Strategies LLC increased its holdings in shares of PDL BioPharma Inc (NASDAQ:PDLI) by 64.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,062 shares of the biotechnology company’s stock after acquiring an additional 19,144 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in PDL BioPharma were worth $166,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PDLI. Dynamic Technology Lab Private Ltd acquired a new position in shares of PDL BioPharma during the 3rd quarter worth approximately $131,000. Public Employees Retirement System of Ohio increased its holdings in shares of PDL BioPharma by 18.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 65,612 shares of the biotechnology company’s stock worth $162,000 after acquiring an additional 10,189 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of PDL BioPharma by 141.7% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 53,584 shares of the biotechnology company’s stock worth $182,000 after acquiring an additional 31,418 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of PDL BioPharma by 15.7% during the 2nd quarter. Voya Investment Management LLC now owns 82,612 shares of the biotechnology company’s stock worth $204,000 after acquiring an additional 11,235 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of PDL BioPharma by 89.4% during the 2nd quarter. Principal Financial Group Inc. now owns 106,800 shares of the biotechnology company’s stock worth $264,000 after acquiring an additional 50,420 shares during the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

PDL BioPharma Inc (PDLI) opened at $2.84 on Friday. The company has a quick ratio of 3.10, a current ratio of 3.16 and a debt-to-equity ratio of 0.14. PDL BioPharma Inc has a 1-year low of $1.96 and a 1-year high of $3.55. The company has a market capitalization of $438.32, a price-to-earnings ratio of 5.68 and a beta of 0.46.

PDL BioPharma (NASDAQ:PDLI) last issued its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. PDL BioPharma had a return on equity of 9.20% and a net margin of 24.51%. The firm had revenue of $62.75 million for the quarter, compared to analyst estimates of $61.86 million. During the same period in the prior year, the firm posted $0.08 EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. equities research analysts predict that PDL BioPharma Inc will post 0.67 earnings per share for the current year.

PDL BioPharma declared that its Board of Directors has approved a share repurchase plan on Monday, September 25th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the biotechnology company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

A number of research firms recently weighed in on PDLI. ValuEngine raised PDL BioPharma from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Cowen reissued a “hold” rating and set a $3.00 target price on shares of PDL BioPharma in a report on Friday, October 27th. Zacks Investment Research lowered PDL BioPharma from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, BidaskClub lowered PDL BioPharma from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. PDL BioPharma presently has a consensus rating of “Hold” and a consensus price target of $3.33.

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PDL BioPharma 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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Institutional Ownership by Quarter for PDL BioPharma (NASDAQ:PDLI)

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