Shell Asset Management Co. continued to hold its stake in shares of PDL BioPharma, Inc. (NASDAQ:PDLI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,266 shares of the biotechnology company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in PDL BioPharma were worth $391,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PDLI. FMR LLC boosted its stake in shares of PDL BioPharma by 14.3% in the fourth quarter. FMR LLC now owns 934,050 shares of the biotechnology company’s stock worth $1,980,000 after buying an additional 116,700 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of PDL BioPharma by 15.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,282,180 shares of the biotechnology company’s stock worth $9,078,000 after buying an additional 582,265 shares during the period. HPM Partners LLC purchased a new stake in shares of PDL BioPharma during the first quarter worth about $163,000. Seizert Capital Partners LLC purchased a new stake in shares of PDL BioPharma during the first quarter worth about $2,706,000. Finally, Norges Bank purchased a new stake in shares of PDL BioPharma during the fourth quarter worth about $5,068,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

Shares of PDL BioPharma, Inc. (PDLI) opened at 2.79 on Wednesday. PDL BioPharma, Inc. has a one year low of $1.93 and a one year high of $3.77. The firm’s 50-day moving average is $2.45 and its 200-day moving average is $2.29. The company has a market cap of $429.88 million, a price-to-earnings ratio of 6.41 and a beta of 0.58.

PDL BioPharma (NASDAQ:PDLI) last issued its earnings results on Thursday, August 3rd. The biotechnology company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.17. The firm had revenue of $143.80 million during the quarter, compared to the consensus estimate of $56.30 million. PDL BioPharma had a return on equity of 9.07% and a net margin of 23.03%. The business’s quarterly revenue was up 584.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Analysts expect that PDL BioPharma, Inc. will post $0.61 EPS for the current fiscal year.

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PDLI has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of PDL BioPharma from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. BidaskClub cut shares of PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of PDL BioPharma from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Cowen and Company reissued a “hold” rating on shares of PDL BioPharma in a report on Wednesday, May 3rd. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $4.00 price objective on shares of PDL BioPharma in a report on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $3.50.

About PDL BioPharma

PDL BioPharma, Inc seeks to provide return for its shareholders by acquiring and managing a portfolio of companies, products, royalty agreements and debt facilities in the biotechnology, pharmaceutical and medical device industries. The Company’s segments include income generating assets and product sales.

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Institutional Ownership by Quarter for PDL BioPharma (NASDAQ:PDLI)

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