PDL Biopharma (PDLI) Cut to “Sell” at BidaskClub

PDL Biopharma (NASDAQ:PDLI) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other research firms have also recently commented on PDLI. Zacks Investment Research upgraded PDL Biopharma from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research report on Wednesday, March 14th. TheStreet upgraded PDL Biopharma from a “d+” rating to a “c-” rating in a research report on Friday, March 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $3.50.

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PDL Biopharma stock opened at $3.00 on Friday. The stock has a market cap of $472.20, a P/E ratio of 4.76 and a beta of 0.37. PDL Biopharma has a 52 week low of $2.01 and a 52 week high of $3.55. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.32 and a quick ratio of 3.27.

A number of institutional investors have recently bought and sold shares of PDLI. Spark Investment Management LLC purchased a new stake in PDL Biopharma during the 4th quarter worth about $142,000. Jane Street Group LLC purchased a new stake in PDL Biopharma during the 4th quarter worth about $142,000. Teacher Retirement System of Texas grew its holdings in PDL Biopharma by 312.9% in the 4th quarter. Teacher Retirement System of Texas now owns 52,122 shares of the biotechnology company’s stock valued at $143,000 after buying an additional 39,499 shares during the period. Cubist Systematic Strategies LLC grew its holdings in PDL Biopharma by 64.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 49,062 shares of the biotechnology company’s stock valued at $166,000 after buying an additional 19,144 shares during the period. Finally, BNP Paribas Arbitrage SA grew its holdings in PDL Biopharma by 141.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 53,584 shares of the biotechnology company’s stock valued at $182,000 after buying an additional 31,418 shares during the period. Hedge funds and other institutional investors own 91.40% of the company’s stock.

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About PDL Biopharma

PDL BioPharma, Inc acquires and manages companies, products, royalty agreements, and debt facilities in the biotech, pharmaceutical, and medical device industries in the United States, Europe, and internationally. The company operates through two segments, Income Generating Assets and Product Sales. The Income Generating Assets segment consists of royalties from issued patents covering the humanization of antibodies, including Avastin, Herceptin, Xolair, Lucentis, Perjeta, Kadcyla, and Tysabri; and notes and other long-term receivables, royalty rights, hybrid notes/royalties receivable, and equity investments in healthcare companies.

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