Stock On Watch: Could PDL BioPharma Inc Change Direction After Reaching 52 Week Low?

Stock On Watch: Could PDL BioPharma Inc Change Direction After Reaching 52 Week Low?

The stock of PDL BioPharma Inc (NASDAQ:PDLI) hit a new 52-week low and has $2.41 target or 9.00% below today’s $2.65 share price. The 5 months bearish chart indicates high risk for the $439.51 million company. The 1-year low was reported on Nov, 23 by Barchart.com. If the $2.41 price target is reached, the company will be worth $39.56 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 1.73M shares traded hands. PDL BioPharma Inc (NASDAQ:PDLI) has declined 18.98% since April 21, 2016 and is downtrending. It has underperformed by 24.31% the S&P500.

Analysts await PDL BioPharma Inc (NASDAQ:PDLI) to report earnings on February, 27. They expect $0.16 EPS, down 73.77% or $0.45 from last year’s $0.61 per share. PDLI’s profit will be $26.49 million for 4.14 P/E if the $0.16 EPS becomes a reality. After $0.11 actual EPS reported by PDL BioPharma Inc for the previous quarter, Wall Street now forecasts 45.45% EPS growth.

PDL BioPharma Inc (NASDAQ:PDLI) Ratings Coverage

Out of 2 analysts covering PDL BioPharma (NASDAQ:PDLI), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. PDL BioPharma has been the topic of 5 analyst reports since October 16, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the stock with “Sector Perform” rating in Friday, October 16 report. RBC Capital Markets maintained the stock with “Sector Perform” rating in Thursday, November 5 report. The rating was maintained by RBC Capital Markets on Tuesday, February 2 with “Sector Perform”. RBC Capital Markets maintained the stock with “Sector Perform” rating in Tuesday, February 23 report.

According to Zacks Investment Research, “Protein Design Labs Inc. is a biopharmaceutical company focused on the research, development and commercialization of novel therapies for inflammation and autoimmune diseases, acute cardiac conditions and cancer. PDL markets several biopharmaceutical products in the United States through its hospital sales force and wholly-owned subsidiary, ESP Pharma, Inc. As a leader in the development of humanized antibodies, PDL has licensed its patents to numerous pharmaceutical and biotechnology companies, some of which are now paying royalties on net sales of licensed products.”

Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 0.23, from 1.23 in 2016Q1. The ratio turned negative, as 20 funds sold all PDL BioPharma Inc shares owned while 51 reduced positions. 23 funds bought stakes while 64 increased positions. They now own 118.91 million shares or 4.03% less from 123.91 million shares in 2016Q1.
Credit Suisse Ag accumulated 333,591 shares or 0% of the stock. Art Advsr Ltd has 0.07% invested in the company for 432,031 shares. First Quadrant L P Ca has 171,600 shares for 0.01% of their US portfolio. Bancorpsouth Inc owns 21,800 shares or 0.01% of their US portfolio. Grantham Mayo Van Otterloo And Communication Limited Co accumulated 2.85 million shares or 0.04% of the stock. Systematic Management Limited Partnership owns 591,495 shares or 0.03% of their US portfolio. Lpl Ltd Com has invested 0% of its portfolio in PDL BioPharma Inc (NASDAQ:PDLI). Moreover, Great West Life Assurance Communication Can has 0% invested in PDL BioPharma Inc (NASDAQ:PDLI) for 16,167 shares. Moreover, Suntrust Banks Inc has 0% invested in PDL BioPharma Inc (NASDAQ:PDLI) for 26,335 shares. Spark Invest Ltd Limited Liability Company owns 179,700 shares or 0.05% of their US portfolio. Connor Clark & Lunn Investment Mngmt Limited holds 1.42M shares or 0.03% of its portfolio. Ladenburg Thalmann Fincl Services has 12,613 shares for 0% of their US portfolio. Proshare Ltd Com holds 0.01% or 144,626 shares in its portfolio. The California-based Rbf Capital Limited Liability has invested 0.17% in PDL BioPharma Inc (NASDAQ:PDLI). Teacher Retirement Systems Of Texas accumulated 21,455 shares or 0% of the stock.

Insider Transactions: Since August 9, 2016, the stock had 1 insider buy, and 0 sales for $29,950 net activity. GARCIA PETER S bought 10,000 shares worth $29,950.

More notable recent PDL BioPharma Inc (NASDAQ:PDLI) news were published by: Prnewswire.com which released: “PDL BioPharma Prices Public Offering of $150.0 Million of 2.75% Convertible …” on November 17, 2016, also Fool.com with their article: “Can PDL BioPharma, Inc. Turn Things Around?” published on October 28, 2016, Prnewswire.com published: “PDL BioPharma Issues $150.0 Million of 2.75% Convertible Senior Notes Due 2021” on November 22, 2016. More interesting news about PDL BioPharma Inc (NASDAQ:PDLI) were released by: Fool.com and their article: “Why Shares of Flexion Therapeutics, Inc., Lantheus Holdings Inc, and PDL …” published on November 16, 2016 as well as Investorplace.com‘s news article titled: “Why Lowe’s Companies, Inc. (LOW), PDL BioPharma Inc (PDLI) and Mallinckrodt …” with publication date: November 16, 2016.

PDLI Company Profile

PDL BioPharma, Inc., formerly Protein Design Labs, Inc., incorporated on July 24, 1986, manages a portfolio of patents and royalty assets, consisting of its Queen et al. patents, license agreements with various biotechnology and pharmaceutical companies, and royalty and other assets acquired. The Firm provides non-dilutive growth capital and financing solutions to late-stage public and private healthcare companies and offers immediate financial monetization of royalty streams to companies, academic institutions and inventors. The Firm evaluates its investments based on the quality of the income generating assets and potential returns on investment. It is focused on intellectual property asset management, acquiring income generating assets and maximizing value for its stockholders, among others.

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