PDL BioPharma (PDLI) Stock Rating Reaffirmed by Cowen

Cowen restated their hold rating on shares of PDL BioPharma (NASDAQ:PDLI) in a research report report published on Tuesday. They currently have a $3.00 price objective on the biotechnology company’s stock.

A number of other research analysts have also weighed in on the company. TheStreet lowered PDL BioPharma from a c- rating to a d+ rating in a report on Friday, August 17th. BidaskClub raised PDL BioPharma from a strong sell rating to a sell rating in a report on Friday, September 21st. ValuEngine lowered PDL BioPharma from a buy rating to a hold rating in a report on Thursday, August 23rd. Finally, Zacks Investment Research lowered PDL BioPharma from a hold rating to a sell rating in a report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. PDL BioPharma has a consensus rating of Hold and a consensus target price of $3.25.

Shares of PDLI stock traded down $0.15 during trading on Tuesday, reaching $2.79. 65,103 shares of the company’s stock were exchanged, compared to its average volume of 987,650. The company has a current ratio of 11.13, a quick ratio of 10.80 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $357.68 million, a PE ratio of 4.55 and a beta of 0.30. PDL BioPharma has a twelve month low of $2.25 and a twelve month high of $3.16.

PDL BioPharma (NASDAQ:PDLI) last posted its earnings results on Tuesday, November 6th. The biotechnology company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The business had revenue of $67.90 million for the quarter. PDL BioPharma had a positive return on equity of 7.57% and a negative net margin of 28.41%. As a group, sell-side analysts predict that PDL BioPharma will post -0.6 EPS for the current fiscal year.

PDL BioPharma announced that its board has initiated a stock buyback plan on Monday, September 24th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the biotechnology company to purchase up to 27.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PDLI. Meeder Asset Management Inc. boosted its stake in PDL BioPharma by 76.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 57,350 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 24,925 shares during the period. United Services Automobile Association boosted its stake in PDL BioPharma by 47.3% in the 2nd quarter. United Services Automobile Association now owns 68,212 shares of the biotechnology company’s stock valued at $160,000 after purchasing an additional 21,899 shares during the period. MetLife Investment Advisors LLC boosted its stake in PDL BioPharma by 81.3% in the 2nd quarter. MetLife Investment Advisors LLC now owns 76,001 shares of the biotechnology company’s stock valued at $178,000 after purchasing an additional 34,078 shares during the period. Hartford Investment Management Co. bought a new stake in PDL BioPharma in the 2nd quarter valued at $254,000. Finally, Alambic Investment Management L.P. bought a new stake in PDL BioPharma in the 2nd quarter valued at $382,000. Institutional investors and hedge funds own 86.95% of the company’s stock.

PDL BioPharma Company Profile

PDL BioPharma, Inc acquires and manages companies, products, royalty agreements, and debt facilities in the biotechnology, pharmaceutical, and medical device industries in the United States, Europe, and internationally. The company operates in three segments: Income Generating Assets, Pharmaceutical, and Medical Devices.

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