PDL BioPharma (NASDAQ:PDLI) Downgraded by ValuEngine to Hold

ValuEngine lowered shares of PDL BioPharma (NASDAQ:PDLI) from a buy rating to a hold rating in a report issued on Thursday morning, ValuEngine reports.

PDLI has been the subject of a number of other reports. Zacks Investment Research downgraded PDL BioPharma from a strong-buy rating to a hold rating and set a $4.00 price objective for the company. in a report on Wednesday, February 19th. Cowen reiterated a hold rating and set a $3.00 price objective on shares of PDL BioPharma in a report on Monday, December 9th. Finally, BidaskClub downgraded PDL BioPharma from a hold rating to a sell rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. PDL BioPharma has an average rating of Hold and an average price target of $3.50.

Shares of PDL BioPharma stock traded up $0.18 during trading hours on Thursday, hitting $2.84. The company’s stock had a trading volume of 828,950 shares, compared to its average volume of 1,388,372. PDL BioPharma has a 12 month low of $2.06 and a 12 month high of $3.89. The stock has a 50 day moving average of $3.12 and a 200 day moving average of $3.00. The company has a market capitalization of $328.75 million, a PE ratio of -4.51 and a beta of 0.73. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.87 and a quick ratio of 6.00.

PDL BioPharma (NASDAQ:PDLI) last announced its quarterly earnings results on Wednesday, March 11th. The biotechnology company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.53). The business had revenue of ($5.80) million during the quarter. During the same period in the prior year, the company earned $0.11 earnings per share. Equities analysts expect that PDL BioPharma will post 0.1 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of PDLI. Marshall Wace LLP acquired a new position in PDL BioPharma during the first quarter valued at approximately $160,000. Virtu Financial LLC acquired a new position in PDL BioPharma during the third quarter valued at approximately $47,000. Barclays PLC boosted its position in PDL BioPharma by 43.3% during the third quarter. Barclays PLC now owns 272,399 shares of the biotechnology company’s stock valued at $588,000 after purchasing an additional 82,305 shares during the last quarter. Squarepoint Ops LLC boosted its position in PDL BioPharma by 75.2% during the third quarter. Squarepoint Ops LLC now owns 264,622 shares of the biotechnology company’s stock valued at $572,000 after purchasing an additional 113,602 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in PDL BioPharma by 7.9% during the fourth quarter. Russell Investments Group Ltd. now owns 1,005,962 shares of the biotechnology company’s stock valued at $3,263,000 after purchasing an additional 73,578 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

About PDL BioPharma

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.

Further Reading: Cash Asset Ratio

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