The stock of PDL BioPharma Inc (NASDAQ:PDLI) hit a new 52-week low and has $2.40 target or 4.00% below today’s $2.50 share price. The 7 months bearish chart indicates high risk for the $405.72M company. The 1-year low was reported on Nov, 28 by Barchart.com. If the $2.40 price target is reached, the company will be worth $16.23 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 158,021 shares traded hands. PDL BioPharma Inc (NASDAQ:PDLI) has declined 31.90% since April 25, 2016 and is downtrending. It has underperformed by 37.92% 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 $25.97M for 3.91 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 60.00% above today’s ($2.5) stock price. PDL BioPharma has been the topic of 5 analyst reports since October 16, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Tuesday, February 2 by RBC Capital Markets. The stock of PDL BioPharma Inc (NASDAQ:PDLI) has “Sector Perform” rating given on Friday, October 16 by RBC Capital Markets. The firm has “Sector Perform” rating given on Thursday, November 5 by RBC Capital Markets. 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 2016 Q2. Its down 0.23, from 1.23 in 2016Q1. The ratio fall, 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.
Numeric Invsts Ltd Liability holds 1.04M shares or 0.03% of its portfolio. Denali Ltd holds 0% or 330 shares in its portfolio. Moreover, Blackrock Advsrs Limited Liability Co has 0% invested in PDL BioPharma Inc (NASDAQ:PDLI) for 374,748 shares. Rbf Ltd Liability Co holds 0.17% of its portfolio in PDL BioPharma Inc (NASDAQ:PDLI) for 273,976 shares. Cornerstone Management Ltd Liability holds 477,200 shares or 0.01% of its portfolio. Envestnet Asset Mgmt Incorporated has 0% invested in the company for 7,088 shares. The British Columbia – Canada-based Pacad Ltd has invested 0.06% in PDL BioPharma Inc (NASDAQ:PDLI). The New Jersey-based Blackrock Invest Mngmt Ltd Com has invested 0% in PDL BioPharma Inc (NASDAQ:PDLI). Sei Invs accumulated 0% or 572 shares. Principal Fincl Gp holds 0% or 28,302 shares in its portfolio. Spot Trading Ltd Liability Company last reported 6,800 shares in the company. First Republic Management, a California-based fund reported 71,074 shares. Glenmede Tru Na holds 0% of its portfolio in PDL BioPharma Inc (NASDAQ:PDLI) for 393 shares. Janney Montgomery Scott Lc holds 0% of its portfolio in PDL BioPharma Inc (NASDAQ:PDLI) for 35,904 shares. The Massachusetts-based Wellington Management Group Llp has invested 0% in PDL BioPharma Inc (NASDAQ:PDLI).
Insider Transactions: Since August 9, 2016, the stock had 1 buy, and 0 sales for $29,950 net activity. 10,000 shares were bought by GARCIA PETER S, worth $29,950 on Tuesday, August 9.
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 to Present at the 28th Annual Piper Jaffray Healthcare Conference” on November 22, 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 Prnewswire.com‘s news article titled: “PDL BioPharma Prices Public Offering of $150.0 Million of 2.75% Convertible …” with publication date: November 17, 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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