PDL BioPharma Inc (NASDAQ:PDLI) was down 5.3% on Friday . The stock traded as low as $3.59 and last traded at $3.59. Approximately 1,317,016 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 1,651,145 shares. The stock had previously closed at $3.79.

A number of brokerages recently commented on PDLI. ValuEngine upgraded shares of PDL BioPharma from a “hold” rating to a “buy” rating in a report on Tuesday, March 12th. BidaskClub upgraded shares of PDL BioPharma from a “hold” rating to a “buy” rating in a report on Friday, January 4th. TheStreet upgraded shares of PDL BioPharma from a “d+” rating to a “c-” rating in a report on Wednesday, February 6th. Finally, Zacks Investment Research upgraded shares of PDL BioPharma from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. PDL BioPharma presently has an average rating of “Buy” and a consensus price target of $3.00.

The company has a current ratio of 9.86, a quick ratio of 10.61 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $485.54 million, a P/E ratio of 9.70 and a beta of 0.59.

PDL BioPharma (NASDAQ:PDLI) last issued its quarterly earnings data on Thursday, March 14th. The biotechnology company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. PDL BioPharma had a negative net margin of 34.76% and a positive return on equity of 6.76%. The business had revenue of $45.12 million for the quarter. During the same quarter in the previous year, the business earned $0.15 earnings per share. Equities research analysts forecast that PDL BioPharma Inc will post 0.25 EPS for the current fiscal year.

Several large investors have recently modified their holdings of PDLI. FMR LLC bought a new stake in shares of PDL BioPharma during the 3rd quarter worth about $2,342,000. Brandes Investment Partners LP raised its stake in PDL BioPharma by 13.4% in the 4th quarter. Brandes Investment Partners LP now owns 4,463,103 shares of the biotechnology company’s stock worth $12,943,000 after purchasing an additional 526,384 shares in the last quarter. Prudential Financial Inc. raised its stake in PDL BioPharma by 3,050.4% in the 4th quarter. Prudential Financial Inc. now owns 482,130 shares of the biotechnology company’s stock worth $1,398,000 after purchasing an additional 466,826 shares in the last quarter. RBF Capital LLC raised its stake in PDL BioPharma by 242.3% in the 4th quarter. RBF Capital LLC now owns 592,413 shares of the biotechnology company’s stock worth $1,718,000 after purchasing an additional 419,323 shares in the last quarter. Finally, Citigroup Inc. raised its stake in PDL BioPharma by 115.6% in the 4th quarter. Citigroup Inc. now owns 581,602 shares of the biotechnology company’s stock worth $1,687,000 after purchasing an additional 311,843 shares in the last quarter. Institutional investors and hedge funds own 81.70% of the company’s stock.

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About PDL BioPharma (NASDAQ:PDLI)

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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