PDL BioPharma Inc (NASDAQ:PDLI) shares were down 6.2% during mid-day trading on Wednesday . The stock traded as low as $3.43 and last traded at $3.46. Approximately 2,038,454 shares were traded during trading, an increase of 30% from the average daily volume of 1,566,972 shares. The stock had previously closed at $3.69.

Several research analysts recently issued reports on PDLI shares. BidaskClub raised PDL BioPharma from a “hold” rating to a “buy” rating in a research report on Friday, January 4th. ValuEngine raised PDL BioPharma from a “hold” rating to a “buy” rating in a research report on Friday, December 21st. Zacks Investment Research cut PDL BioPharma from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Finally, TheStreet raised PDL BioPharma from a “d+” rating to a “c-” rating in a research report on Wednesday, February 6th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $3.00.

The company has a quick ratio of 9.50, a current ratio of 9.86 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $472.73 million, a price-to-earnings ratio of 9.35 and a beta of 0.59.

PDL BioPharma (NASDAQ:PDLI) last posted its quarterly earnings data on Thursday, March 14th. The biotechnology company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.02. PDL BioPharma had a positive return on equity of 6.76% and a negative net margin of 34.76%. The business had revenue of $45.12 million for the quarter. During the same period in the prior year, the firm posted $0.15 EPS. Analysts anticipate that PDL BioPharma Inc will post 0.25 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Legal & General Group Plc boosted its position in PDL BioPharma by 24.2% in the fourth quarter. Legal & General Group Plc now owns 26,678 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 5,197 shares during the last quarter. Fruth Investment Management purchased a new position in PDL BioPharma in the fourth quarter worth $29,000. United Services Automobile Association boosted its position in PDL BioPharma by 13.1% in the fourth quarter. United Services Automobile Association now owns 89,576 shares of the biotechnology company’s stock worth $260,000 after purchasing an additional 10,354 shares during the last quarter. Strategic Wealth Partners Ltd. purchased a new position in PDL BioPharma in the fourth quarter worth $44,000. Finally, California Public Employees Retirement System boosted its position in PDL BioPharma by 2.6% in the fourth quarter. California Public Employees Retirement System now owns 633,073 shares of the biotechnology company’s stock worth $1,836,000 after purchasing an additional 16,124 shares during the last quarter. 93.10% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “PDL BioPharma (PDLI) Trading Down 6.2%” was reported by Daily Political and is owned by of Daily Political. If you are viewing this story on another publication, it was illegally copied and republished in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.dailypolitical.com/2019/04/17/pdl-biopharma-pdli-trading-down-6-2.html.

PDL BioPharma Company Profile (NASDAQ:PDLI)

PDL BioPharma, Inc acquires, manages, and commercializes commercial stage pharmaceutical assets and late clinical stage pharmaceutical products in the United States, Europe, and internationally. The company operates in three segments: Pharmaceutical, Medical Devices, and Income Generating Assets. The Pharmaceutical segment manufactures, markets, and sells prescription medicine products for the treatment of hypertension to wholesalers under the Tekturna and Tekturna HCT names in the United States, as well as under the Rasilez and Rasilez HCT names internationally.

Recommended Story: Trading Strategy Methods for Individual Investors

Receive News & Ratings for PDL BioPharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDL BioPharma and related companies with MarketBeat.com's FREE daily email newsletter.