PDL BioPharma (PDLI) Rating Lowered to D+ at TheStreet

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TheStreet cut shares of PDL BioPharma (NASDAQ:PDLI) from a c- rating to a d+ rating in a research report released on Friday.

PDLI has been the topic of several other reports. BidaskClub upgraded PDL BioPharma from a strong sell rating to a sell rating in a report on Wednesday, July 4th. Zacks Investment Research downgraded PDL BioPharma from a hold rating to a sell rating in a report on Tuesday, July 24th. Finally, Cowen restated a hold rating and set a $2.50 price objective on shares of PDL BioPharma in a report on Thursday, June 14th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $3.00.

PDLI opened at $2.31 on Friday. The firm has a market cap of $338.78 million, a price-to-earnings ratio of 3.67 and a beta of 0.31. PDL BioPharma has a 52 week low of $2.27 and a 52 week high of $3.55. The company has a current ratio of 11.13, a quick ratio of 10.80 and a debt-to-equity ratio of 0.17.

PDL BioPharma (NASDAQ:PDLI) last released its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.06 by $0.04. The company had revenue of $46.58 million for the quarter. PDL BioPharma had a positive return on equity of 8.92% and a negative net margin of 31.33%. equities research analysts forecast that PDL BioPharma will post -0.6 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in PDL BioPharma by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,514,490 shares of the biotechnology company’s stock valued at $29,284,000 after acquiring an additional 996,690 shares in the last quarter. Renaissance Technologies LLC boosted its position in PDL BioPharma by 0.4% during the 2nd quarter. Renaissance Technologies LLC now owns 9,688,354 shares of the biotechnology company’s stock valued at $22,671,000 after acquiring an additional 39,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in PDL BioPharma by 18.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,677,647 shares of the biotechnology company’s stock valued at $13,286,000 after acquiring an additional 887,945 shares in the last quarter. Northern Trust Corp boosted its position in PDL BioPharma by 46.5% during the 1st quarter. Northern Trust Corp now owns 4,973,948 shares of the biotechnology company’s stock valued at $14,623,000 after acquiring an additional 1,578,761 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in PDL BioPharma by 4.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,575,598 shares of the biotechnology company’s stock valued at $8,367,000 after acquiring an additional 142,413 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

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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