Shares of PDL BioPharma Inc (NASDAQ:PDLI) fell 5.5% on Friday . The company traded as low as $2.15 and last traded at $2.24, 6,399,218 shares changed hands during trading. An increase of 370% from the average session volume of 1,362,357 shares. The stock had previously closed at $2.37.
A number of brokerages recently weighed in on PDLI. Zacks Investment Research raised PDL BioPharma from a “sell” rating to a “hold” rating and set a $3.25 price objective on the stock in a research report on Wednesday, May 29th. Cowen set a $3.00 price objective on PDL BioPharma and gave the company a “hold” rating in a research report on Wednesday, August 7th. BidaskClub downgraded PDL BioPharma from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 20th. Finally, ValuEngine downgraded PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $3.13.
The business has a 50-day moving average of $2.58 and a two-hundred day moving average of $3.13. The company has a market cap of $255.82 million, a P/E ratio of 6.05 and a beta of 0.69. The company has a debt-to-equity ratio of 0.19, a current ratio of 10.43 and a quick ratio of 10.00.
Institutional investors have recently added to or reduced their stakes in the business. TrinityPoint Wealth LLC purchased a new stake in PDL BioPharma in the first quarter valued at about $53,000. A.R.T. Advisors LLC purchased a new stake in PDL BioPharma in the second quarter valued at about $87,000. Marshall Wace LLP purchased a new stake in PDL BioPharma in the first quarter valued at about $160,000. Alberta Investment Management Corp purchased a new stake in PDL BioPharma in the second quarter valued at about $174,000. Finally, Zebra Capital Management LLC raised its stake in PDL BioPharma by 86.5% in the second quarter. Zebra Capital Management LLC now owns 55,911 shares of the biotechnology company’s stock valued at $176,000 after buying an additional 25,934 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.
PDL BioPharma Company Profile (NASDAQ:PDLI)
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.
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