PDL BioPharma (NASDAQ:PDLI) Upgraded at BidaskClub

BidaskClub upgraded shares of PDL BioPharma (NASDAQ:PDLI) from a hold rating to a buy rating in a research note published on Wednesday morning, BidAskClub reports.

PDLI has been the topic of a number of other reports. TheStreet lowered PDL BioPharma from a c- rating to a d+ rating in a research note on Wednesday, October 7th. ValuEngine raised PDL BioPharma from a strong sell rating to a sell rating in a research note on Tuesday, December 1st. Finally, Zacks Investment Research lowered PDL BioPharma from a buy rating to a hold rating in a research note on Friday, September 18th.

Shares of NASDAQ:PDLI opened at $2.47 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 13.68 and a quick ratio of 13.33. The business’s 50 day moving average price is $2.54 and its 200-day moving average price is $2.83. The firm has a market capitalization of $282.14 million, a PE ratio of -1.86 and a beta of 0.88. PDL BioPharma has a 1 year low of $2.09 and a 1 year high of $3.86.

In other PDL BioPharma news, VP Christopher Lewis Stone sold 200,000 shares of the business’s stock in a transaction on Wednesday, December 16th. The stock was sold at an average price of $2.56, for a total transaction of $512,000.00. Following the transaction, the vice president now owns 405,559 shares of the company’s stock, valued at $1,038,231.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Silver Point Capital L.P. acquired 450,000 shares of the stock in a transaction on Friday, December 11th. The shares were bought at an average cost of $2.45 per share, for a total transaction of $1,102,500.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 4,866,600 shares of company stock worth $12,635,204 and have sold 1,129,261 shares worth $2,891,728. Insiders own 2.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its position in PDL BioPharma by 725.6% in the second quarter. Bank of Montreal Can now owns 12,499 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 10,985 shares during the period. Nisa Investment Advisors LLC purchased a new stake in PDL BioPharma in the third quarter valued at $41,000. BNP Paribas Arbitrage SA raised its position in PDL BioPharma by 130.3% in the third quarter. BNP Paribas Arbitrage SA now owns 32,581 shares of the biotechnology company’s stock valued at $103,000 after purchasing an additional 18,432 shares during the period. ExodusPoint Capital Management LP raised its position in PDL BioPharma by 223.0% in the third quarter. ExodusPoint Capital Management LP now owns 40,158 shares of the biotechnology company’s stock valued at $126,000 after purchasing an additional 27,724 shares during the period. Finally, Marshall Wace LLP purchased a new stake in PDL BioPharma in the first quarter valued at $160,000. 83.88% of the stock is currently owned by institutional investors.

PDL BioPharma Company Profile

PDL BioPharma, Inc manages various patents in the United States and internationally. The company's patents cover humanization of antibodies. It also offers notes and other long-term receivables services, as well as engages in the equity investment activities. The company was formerly known as Protein Design Labs, Inc and changed its name to PDL BioPharma, Inc in 2006.

See Also: Bollinger Bands

Receive News & Ratings for PDL BioPharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDL BioPharma and related companies with MarketBeat.com's FREE daily email newsletter.