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

ValuEngine lowered shares of PDL BioPharma (NASDAQ:PDLI) from a buy rating to a hold rating in a research note released on Thursday, ValuEngine reports.

Other equities research analysts have also issued research reports about the stock. Cowen reissued a hold rating and set a $3.00 target price on shares of PDL BioPharma in a research note on Monday, December 9th. Zacks Investment Research downgraded shares of PDL BioPharma from a strong-buy rating to a hold rating and set a $4.00 target price on the stock. in a report on Wednesday, February 19th. Finally, BidaskClub lowered shares of PDL BioPharma from a hold rating to a sell rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The company has an average rating of Hold and a consensus target price of $3.50.

Shares of NASDAQ:PDLI traded up $0.18 during trading on Thursday, hitting $2.84. 828,950 shares of the stock were exchanged, compared to its average volume of 1,388,372. The company has a fifty day moving average price of $3.12 and a two-hundred day moving average price of $3.00. The company has a market cap of $328.75 million, a PE ratio of -4.51 and a beta of 0.73. The company has a current ratio of 6.87, a quick ratio of 6.00 and a debt-to-equity ratio of 0.05. PDL BioPharma has a 12-month low of $2.06 and a 12-month high of $3.89.

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

A number of large investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can bought a new position in shares of PDL BioPharma in the fourth quarter worth about $28,000. Marshall Wace North America L.P. bought a new stake in PDL BioPharma during the fourth quarter worth $40,000. Meeder Asset Management Inc. bought a new position in shares of PDL BioPharma in the fourth quarter valued at about $62,000. Jefferies Group LLC bought a new position in shares of PDL BioPharma in the fourth quarter valued at about $64,000. Finally, Virtu Financial LLC bought a new position in PDL BioPharma during the third quarter worth about $47,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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