PDL BioPharma (PDLI) Rating Lowered to Buy at BidaskClub

BidaskClub cut shares of PDL BioPharma (NASDAQ:PDLI) from a strong-buy rating to a buy rating in a report published on Thursday, BidAskClub reports.

PDLI has been the subject of several other reports. ValuEngine downgraded PDL BioPharma from a buy rating to a hold rating in a research note on Friday, January 4th. Zacks Investment Research downgraded PDL BioPharma from a hold rating to a sell rating in a research note on Tuesday, January 8th. Finally, TheStreet upgraded PDL BioPharma from a d+ rating to a c- rating in a research note on Wednesday, February 6th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. PDL BioPharma has an average rating of Buy and an average target price of $3.00.

PDLI traded up $0.02 during trading on Thursday, hitting $3.40. The stock had a trading volume of 780,261 shares, compared to its average volume of 1,255,372. The company has a market capitalization of $435.57 million, a PE ratio of 9.71 and a beta of 0.59. PDL BioPharma has a one year low of $2.25 and a one year high of $3.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 9.86 and a quick ratio of 9.50.

PDL BioPharma (NASDAQ:PDLI) last released its quarterly earnings results on Thursday, March 14th. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The business had revenue of $45.12 million during the quarter. PDL BioPharma had a positive return on equity of 6.76% and a negative net margin of 34.76%. During the same quarter last year, the firm earned $0.15 earnings per share. Equities analysts anticipate that PDL BioPharma will post 0.25 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fruth Investment Management acquired a new position in PDL BioPharma in the 4th quarter valued at $29,000. Strategic Wealth Partners Ltd. acquired a new position in PDL BioPharma in the 4th quarter valued at $44,000. Two Sigma Securities LLC acquired a new position in PDL BioPharma in the 4th quarter valued at $61,000. Legal & General Group Plc raised its holdings in PDL BioPharma by 24.2% in the 4th quarter. Legal & General Group Plc now owns 26,678 shares of the biotechnology company’s stock valued at $77,000 after acquiring an additional 5,197 shares in the last quarter. Finally, CAPROCK Group Inc. acquired a new position in PDL BioPharma in the 4th quarter valued at $95,000. Institutional investors and hedge funds own 93.10% of the company’s stock.

About PDL BioPharma

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.

Recommended Story: What is a Market Correction?

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.