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

A number of other research firms have also recently weighed in on PDLI. Zacks Investment Research upgraded PDL BioPharma from a sell rating to a hold rating and set a $3.25 price target for the company in a report on Wednesday, May 29th. BidaskClub cut PDL BioPharma from a hold rating to a sell rating in a report on Saturday, August 3rd. Finally, Cowen set a $3.00 price target on PDL BioPharma and gave the stock a hold rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $3.13.

Shares of PDLI opened at $2.56 on Thursday. PDL BioPharma has a 52-week low of $2.25 and a 52-week high of $3.89. The company has a market capitalization of $291.22 million, a PE ratio of 6.92 and a beta of 0.66. The stock has a fifty day simple moving average of $2.99 and a two-hundred day simple moving average of $3.26. The company has a quick ratio of 10.67, a current ratio of 10.43 and a debt-to-equity ratio of 0.19.

PDL BioPharma (NASDAQ:PDLI) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. PDL BioPharma had a positive return on equity of 6.61% and a negative net margin of 32.13%. The business had revenue of ($22.53) million during the quarter. As a group, equities analysts anticipate that PDL BioPharma will post 0.12 earnings per share for the current fiscal year.

In other PDL BioPharma news, major shareholder Pdl Biopharma, Inc. purchased 6,666,667 shares of the stock in a transaction dated Monday, June 10th. The stock was acquired at an average cost of $4.50 per share, for a total transaction of $30,000,001.50. Following the acquisition, the insider now owns 13,333,334 shares in the company, valued at approximately $60,000,003. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TrinityPoint Wealth LLC purchased a new position in PDL BioPharma during the 1st quarter valued at about $53,000. Legal & General Group Plc boosted its holdings in PDL BioPharma by 24.2% during the 4th quarter. Legal & General Group Plc now owns 26,678 shares of the biotechnology company’s stock valued at $77,000 after acquiring an additional 5,197 shares during the period. A.R.T. Advisors LLC purchased a new position in PDL BioPharma during the 2nd quarter valued at about $87,000. Marshall Wace LLP purchased a new position in PDL BioPharma during the 1st quarter valued at about $160,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in PDL BioPharma by 307.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 47,074 shares of the biotechnology company’s stock valued at $137,000 after acquiring an additional 35,507 shares during the period. Institutional investors and hedge funds own 97.09% 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.

See Also: Stop Order Uses For Individual Investors

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

Receive News & Ratings for PDL BioPharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDL BioPharma and related companies with MarketBeat.com's FREE daily email newsletter.