PDL BioPharma Inc (NASDAQ:PDLI) Short Interest Update

PDL BioPharma Inc (NASDAQ:PDLI) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 10,150,000 shares, a decrease of 27.3% from the December 15th total of 13,960,000 shares. Currently, 9.1% of the company’s stock are sold short. Based on an average daily volume of 1,380,000 shares, the days-to-cover ratio is presently 7.4 days.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC raised its holdings in shares of PDL BioPharma by 75.2% during the third quarter. Squarepoint Ops LLC now owns 264,622 shares of the biotechnology company’s stock worth $572,000 after purchasing an additional 113,602 shares during the period. Zebra Capital Management LLC raised its holdings in shares of PDL BioPharma by 32.2% during the third quarter. Zebra Capital Management LLC now owns 73,910 shares of the biotechnology company’s stock worth $160,000 after purchasing an additional 17,999 shares during the period. Barclays PLC raised its holdings in shares of PDL BioPharma by 43.3% during the third quarter. Barclays PLC now owns 272,399 shares of the biotechnology company’s stock worth $588,000 after purchasing an additional 82,305 shares during the period. Virtu Financial LLC acquired a new stake in shares of PDL BioPharma during the third quarter worth $47,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of PDL BioPharma by 103.2% during the third quarter. Russell Investments Group Ltd. now owns 932,384 shares of the biotechnology company’s stock worth $2,015,000 after purchasing an additional 473,528 shares during the period. 87.05% of the stock is currently owned by hedge funds and other institutional investors.

PDLI has been the subject of several analyst reports. ValuEngine upgraded shares of PDL BioPharma from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Cowen restated a “hold” rating and issued a $3.00 target price on shares of PDL BioPharma in a research note on Monday, December 9th. Finally, BidaskClub cut shares of PDL BioPharma from a “hold” rating to a “sell” rating in a report on Tuesday, December 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. PDL BioPharma currently has a consensus rating of “Hold” and an average target price of $3.13.

PDLI opened at $3.16 on Tuesday. The stock has a market capitalization of $360.81 million, a PE ratio of 8.54 and a beta of 0.68. The firm’s fifty day moving average price is $3.22 and its 200 day moving average price is $2.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 9.94 and a quick ratio of 9.43. PDL BioPharma has a 12-month low of $2.06 and a 12-month high of $3.89.

PDL BioPharma (NASDAQ:PDLI) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04. The company had revenue of $44.17 million during the quarter. On average, equities research analysts forecast that PDL BioPharma will post -0.07 earnings per share for the current fiscal year.

PDL BioPharma Company Profile

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.

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