BidaskClub lowered shares of PDL BioPharma (NASDAQ:PDLI) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

PDLI has been the topic of several other research reports. ValuEngine upgraded shares of PDL BioPharma from a hold rating to a buy rating in a research note on Saturday, November 25th. Cowen reiterated a hold rating and set a $3.00 price objective on shares of PDL BioPharma in a research note on Friday, October 27th. One research 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 an average price target of $3.33.

Shares of PDL BioPharma (NASDAQ:PDLI) traded down $0.03 during trading on Friday, hitting $2.84. 1,020,000 shares of the stock were exchanged, compared to its average volume of 1,360,000. The firm has a market cap of $438.32, a price-to-earnings ratio of 5.68 and a beta of 0.46. The company has a current ratio of 3.16, a quick ratio of 3.10 and a debt-to-equity ratio of 0.14. PDL BioPharma has a 1-year low of $1.96 and a 1-year high of $3.55.

PDL BioPharma (NASDAQ:PDLI) last released its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $62.75 million for the quarter, compared to analyst estimates of $61.86 million. PDL BioPharma had a net margin of 24.51% and a return on equity of 9.20%. PDL BioPharma’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share. equities analysts expect that PDL BioPharma will post 0.67 EPS for the current year.

PDL BioPharma announced that its board has authorized a stock repurchase program on Monday, September 25th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the biotechnology company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PDLI. Schwab Charles Investment Management Inc. raised its stake in PDL BioPharma by 25.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,877,105 shares of the biotechnology company’s stock worth $7,107,000 after acquiring an additional 584,481 shares during the period. State of Wisconsin Investment Board acquired a new stake in PDL BioPharma during the second quarter worth about $301,000. Airain ltd raised its stake in PDL BioPharma by 21.0% during the second quarter. Airain ltd now owns 56,911 shares of the biotechnology company’s stock worth $141,000 after acquiring an additional 9,893 shares during the period. Principal Financial Group Inc. raised its stake in PDL BioPharma by 89.4% during the second quarter. Principal Financial Group Inc. now owns 106,800 shares of the biotechnology company’s stock worth $264,000 after acquiring an additional 50,420 shares during the period. Finally, Systematic Financial Management LP increased its stake in shares of PDL BioPharma by 0.4% in the second quarter. Systematic Financial Management LP now owns 714,640 shares of the biotechnology company’s stock valued at $1,765,000 after purchasing an additional 2,585 shares during the period. Hedge funds and other institutional investors own 88.37% of the company’s stock.

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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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