ValuEngine upgraded shares of PDL BioPharma (NASDAQ:PDLI) from a hold rating to a buy rating in a research note released on Tuesday.

PDLI has been the topic of a number of other reports. BidaskClub raised shares of PDL BioPharma from a hold rating to a buy rating in a research note on Friday, January 4th. Zacks Investment Research downgraded shares of PDL BioPharma from a hold rating to a sell rating in a research note on Tuesday, January 8th. Finally, TheStreet raised shares of PDL BioPharma from a d+ rating to a c- rating in a research note on Wednesday, February 6th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $3.00.

NASDAQ PDLI opened at $3.48 on Tuesday. PDL BioPharma has a 1-year low of $2.25 and a 1-year high of $3.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 10.61 and a current ratio of 10.88. The firm has a market capitalization of $513.84 million, a PE ratio of 5.52 and a beta of 0.59.

PDL BioPharma (NASDAQ:PDLI) last posted its quarterly earnings results on Thursday, March 14th. The biotechnology company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. PDL BioPharma had a negative net margin of 28.41% and a positive return on equity of 7.72%. During the same period in the prior year, the firm earned $0.15 EPS. On average, sell-side analysts predict that PDL BioPharma will post -0.53 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fruth Investment Management bought a new stake in PDL BioPharma in the fourth quarter worth $29,000. Strategic Wealth Partners Ltd. bought a new stake in PDL BioPharma in the fourth quarter worth $44,000. Two Sigma Securities LLC bought a new stake in PDL BioPharma in the fourth quarter worth $61,000. Legal & General Group Plc boosted its holdings in PDL BioPharma by 24.2% in the fourth quarter. Legal & General Group Plc now owns 26,678 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 5,197 shares in the last quarter. Finally, CAPROCK Group Inc. bought a new stake in PDL BioPharma in the fourth quarter worth $95,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.

About PDL BioPharma

PDL BioPharma, Inc acquires and manages companies, products, royalty agreements, and debt facilities in the biotechnology, pharmaceutical, and medical device industries in the United States, Europe, and internationally. The company operates in three segments: Income Generating Assets, Pharmaceutical, and Medical Devices.

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