PDL BioPharma, Inc. (NASDAQ:PDLI)‘s stock had its “buy” rating reiterated by investment analysts at Piper Jaffray Companies in a report issued on Thursday. They currently have a $4.00 target price on the biotechnology company’s stock. Piper Jaffray Companies’ price objective suggests a potential upside of 51.52% from the stock’s current price.

Several other analysts also recently weighed in on the company. ValuEngine upgraded PDL BioPharma from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. BidaskClub downgraded PDL BioPharma from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Zacks Investment Research upgraded PDL BioPharma from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Finally, Cowen and Company reiterated a “hold” rating on shares of PDL BioPharma in a research report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. PDL BioPharma currently has an average rating of “Hold” and an average target price of $3.50.

PDL BioPharma (PDLI) opened at 2.64 on Thursday. PDL BioPharma has a one year low of $1.93 and a one year high of $3.77. The company has a market capitalization of $425.00 million, a price-to-earnings ratio of 29.01 and a beta of 0.58. The firm has a 50-day moving average of $2.43 and a 200 day moving average of $2.28.

PDL BioPharma (NASDAQ:PDLI) last released its earnings results on Thursday, August 3rd. The biotechnology company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.17. PDL BioPharma had a return on equity of 9.07% and a net margin of 23.03%. The business had revenue of $143.80 million during the quarter, compared to the consensus estimate of $56.30 million. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue for the quarter was up 584.8% compared to the same quarter last year. Equities research analysts predict that PDL BioPharma will post $0.38 earnings per share for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the company. Seizert Capital Partners LLC increased its stake in PDL BioPharma by 5.9% in the second quarter. Seizert Capital Partners LLC now owns 1,262,960 shares of the biotechnology company’s stock valued at $3,120,000 after buying an additional 70,874 shares during the last quarter. Kestrel Investment Management Corp purchased a new stake in PDL BioPharma during the second quarter valued at $4,293,000. Brandes Investment Partners LP increased its stake in PDL BioPharma by 1,790.3% in the second quarter. Brandes Investment Partners LP now owns 1,107,310 shares of the biotechnology company’s stock valued at $2,879,000 after buying an additional 1,048,732 shares during the last quarter. Principal Financial Group Inc. increased its stake in PDL BioPharma by 89.4% in the second quarter. Principal Financial Group Inc. now owns 106,800 shares of the biotechnology company’s stock valued at $264,000 after buying an additional 50,420 shares during the last quarter. Finally, Airain ltd increased its stake in PDL BioPharma by 21.0% in the second quarter. Airain ltd now owns 56,911 shares of the biotechnology company’s stock valued at $141,000 after buying an additional 9,893 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

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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