Price Action Report: A Reversal for PDL BioPharma Inc Is Not Near. The Stock Declines Again

Price Action Report: A Reversal for PDL BioPharma Inc Is Not Near. The Stock Declines Again

The stock of PDL BioPharma Inc (NASDAQ:PDLI) is a huge mover today! The stock decreased 14.52% or $0.44 on November 23, hitting $2.59. About 8.59 million shares traded hands or 292.24% up from the average. PDL BioPharma Inc (NASDAQ:PDLI) has declined 32.20% since April 22, 2016 and is downtrending. It has underperformed by 37.61% the S&P500.
The move comes after 8 months negative chart setup for the $366.49 million company. It was reported on Nov, 24 by Barchart.com. We have $2.49 PT which if reached, will make NASDAQ:PDLI worth $14.66M less.

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 $22.64M for 4.05 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. $7 is the highest target while $4 is the lowest. The $4 average target is 54.44% above today’s ($2.59) stock price. PDL BioPharma has been the topic of 5 analyst reports since October 16, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the shares of PDLI in a report on Tuesday, February 23 with “Sector Perform” rating. The rating was maintained by RBC Capital Markets on Thursday, November 5 with “Sector Perform”. The stock of PDL BioPharma Inc (NASDAQ:PDLI) earned “Sector Perform” rating by RBC Capital Markets on Friday, October 16. RBC Capital Markets maintained PDL BioPharma Inc (NASDAQ:PDLI) rating on Tuesday, February 2. RBC Capital Markets has “Sector Perform” rating and $5 price target.

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 2016 Q2. Its down 0.23, from 1.23 in 2016Q1. The ratio worsened, 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.
Bnp Paribas Inv Ptnrs, a France-based fund reported 37,058 shares. Peak6 Invests Lp owns 33,845 shares or 0% of their US portfolio. Blackrock Japan Limited accumulated 0% or 4,242 shares. Blackrock Inv Management Ltd Llc has 687,978 shares for 0% of their US portfolio. State Board Of Administration Of Florida Retirement Systems owns 141,207 shares or 0% of their US portfolio. The New York-based Tower Rech Cap Lc (Trc) has invested 0% in PDL BioPharma Inc (NASDAQ:PDLI). Envestnet Asset has invested 0% of its portfolio in PDL BioPharma Inc (NASDAQ:PDLI). Strs Ohio accumulated 234,400 shares or 0% of the stock. Bowling Port Mgmt Lc has 0.01% invested in the company for 23,235 shares. Employees Retirement Association Of Colorado owns 57,000 shares or 0% of their US portfolio. Dynamic Capital Mngmt Limited has 38,056 shares for 0.01% of their US portfolio. The New York-based D E Shaw has invested 0% in PDL BioPharma Inc (NASDAQ:PDLI). Cubist Systematic Strategies Ltd Liability Corp holds 0.01% of its portfolio in PDL BioPharma Inc (NASDAQ:PDLI) for 32,310 shares. Virginia Retirement Systems Et Al has 0% invested in the company for 52,400 shares. Convergence Partners Ltd Co has 0.05% invested in the company for 107,980 shares.

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

More notable recent PDL BioPharma Inc (NASDAQ:PDLI) news were published by: Fool.com which released: “Why PDL BioPharma Inc. Is Down 14.8% Today” on November 23, 2016, also Prnewswire.com with their article: “PDL BioPharma Issues $150.0 Million of 2.75% Convertible Senior Notes Due 2021” published on November 22, 2016, Prnewswire.com published: “PDL BioPharma Prices Public Offering of $150.0 Million of 2.75% Convertible …” on November 17, 2016. More interesting news about PDL BioPharma Inc (NASDAQ:PDLI) were released by: Fool.com and their article: “Can PDL BioPharma, Inc. Turn Things Around?” published on October 28, 2016 as well as Fool.com‘s news article titled: “Why Shares of Flexion Therapeutics, Inc., Lantheus Holdings Inc, and PDL …” 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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