BidaskClub upgraded shares of PDL BioPharma (NASDAQ:PDLI) from a strong sell rating to a sell rating in a report released on Friday morning.

PDLI has been the subject of several other reports. Zacks Investment Research cut shares of PDL BioPharma from a hold rating to a sell rating in a research note on Tuesday, July 24th. TheStreet cut shares of PDL BioPharma from a c- rating to a d+ rating in a research note on Friday, August 17th. Cowen reaffirmed a hold rating and set a $2.50 target price on shares of PDL BioPharma in a research note on Thursday, June 14th. Finally, ValuEngine cut shares of PDL BioPharma from a buy rating to a hold rating in a research note on Thursday, August 23rd. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $3.00.

Shares of PDLI stock opened at $2.43 on Friday. The firm has a market cap of $353.32 million, a PE ratio of 3.86 and a beta of 0.30. PDL BioPharma has a one year low of $2.25 and a one year high of $3.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 10.80 and a current ratio of 11.13.

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

Large investors have recently modified their holdings of the business. Bayesian Capital Management LP purchased a new position in shares of PDL BioPharma in the 1st quarter worth $135,000. MetLife Investment Advisors LLC grew its stake in shares of PDL BioPharma by 81.3% in the 2nd quarter. MetLife Investment Advisors LLC now owns 76,001 shares of the biotechnology company’s stock worth $178,000 after buying an additional 34,078 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of PDL BioPharma in the 1st quarter worth $226,000. Hartford Investment Management Co. purchased a new position in shares of PDL BioPharma in the 2nd quarter worth $254,000. Finally, A.R.T. Advisors LLC purchased a new position in shares of PDL BioPharma in the 1st quarter worth $441,000. 87.40% of the stock is 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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