PDL BioPharma (NASDAQ:PDLI) Sees Unusually-High Trading Volume

PDL BioPharma Inc (NASDAQ:PDLI) saw an uptick in trading volume on Monday . 5,776,504 shares changed hands during mid-day trading, an increase of 315% from the previous session’s volume of 1,390,769 shares.The stock last traded at $3.60 and had previously closed at $2.95.

Several equities analysts have weighed in on PDLI shares. BidaskClub upgraded PDL BioPharma from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Cowen reaffirmed a “hold” rating and set a $3.00 price objective on shares of PDL BioPharma in a report on Monday. Finally, ValuEngine upgraded shares of PDL BioPharma from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $3.13.

The company has a current ratio of 9.94, a quick ratio of 9.43 and a debt-to-equity ratio of 0.21. The stock’s 50-day simple moving average is $2.92 and its 200-day simple moving average is $2.75. The firm has a market capitalization of $407.05 million, a P/E ratio of 9.73 and a beta of 0.67.

PDL BioPharma (NASDAQ:PDLI) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.04. PDL BioPharma had a negative net margin of 32.13% and a positive return on equity of 6.71%. The firm had revenue of $44.17 million for the quarter. On average, equities research analysts expect that PDL BioPharma Inc will post -0.07 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC increased its position in shares of PDL BioPharma by 75.2% during the third quarter. Squarepoint Ops LLC now owns 264,622 shares of the biotechnology company’s stock valued at $572,000 after acquiring an additional 113,602 shares during the last quarter. Zebra Capital Management LLC boosted its position in PDL BioPharma by 32.2% in the third quarter. Zebra Capital Management LLC now owns 73,910 shares of the biotechnology company’s stock worth $160,000 after purchasing an additional 17,999 shares during the last quarter. Barclays PLC boosted its position in PDL BioPharma by 43.3% in the third quarter. Barclays PLC now owns 272,399 shares of the biotechnology company’s stock worth $588,000 after purchasing an additional 82,305 shares during the last quarter. Virtu Financial LLC bought a new position in PDL BioPharma in the 3rd quarter valued at $47,000. Finally, Russell Investments Group Ltd. grew its stake in PDL BioPharma by 103.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 932,384 shares of the biotechnology company’s stock valued at $2,015,000 after purchasing an additional 473,528 shares during the period. 87.05% of the stock is owned by institutional investors.

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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