PDL BioPharma, Inc. (PDLI) Receives $4.00 Consensus Price Target from Analysts

Shares of PDL BioPharma, Inc. (NASDAQ:PDLI) have received a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $4.00.

Several research analysts have issued reports on the company. BidaskClub downgraded PDL BioPharma from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. ValuEngine downgraded PDL BioPharma from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research raised PDL BioPharma from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Finally, Cowen and Company reaffirmed a “hold” rating on shares of PDL BioPharma in a report on Wednesday, May 3rd.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nine Chapters Capital Management LLC increased 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 in the last quarter. Parametric Portfolio Associates LLC increased 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 worth $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 worth $783,000. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $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 worth $163,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of PDL BioPharma (NASDAQ PDLI) traded up 1.93% during mid-day trading on Friday, hitting $2.64. The company had a trading volume of 2,274,491 shares. The firm’s 50 day moving average is $2.41 and its 200-day moving average is $2.28. The firm has a market cap of $425.00 million, a PE ratio of 29.01 and a beta of 0.58. PDL BioPharma has a 12-month low of $1.93 and a 12-month high of $3.77.

PDL BioPharma (NASDAQ:PDLI) last posted its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $56.30 million. During the same quarter in the prior year, the business earned $0.09 EPS. The business’s revenue for the quarter was up 584.8% compared to the same quarter last year. On average, equities analysts expect that PDL BioPharma will post $0.38 EPS for the current year.

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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