The stock of PDL BioPharma Inc (NASDAQ:PDLI) is a huge mover today! The stock decreased 4.37% or $0.1 during the last trading session, hitting $2.19. About 4.66M shares traded hands or 72.59% up from the average. PDL BioPharma Inc (NASDAQ:PDLI) has declined 39.42% since April 27, 2016 and is downtrending. It has underperformed by 44.64% the S&P500.
The move comes after 6 months negative chart setup for the $345.92 million company. It was reported on Nov, 30 by Barchart.com. We have $2.12 PT which if reached, will make NASDAQ:PDLI worth $10.38M less.
Analysts await PDL BioPharma Inc (NASDAQ:PDLI) to report earnings on February, 27. They expect $0.16 earnings per share, down 73.77% or $0.45 from last year’s $0.61 per share. PDLI’s profit will be $25.27 million for 3.42 P/E if the $0.16 EPS becomes a reality. After $0.11 actual earnings per share 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. The firm has “Sector Perform” rating by RBC Capital Markets given on Tuesday, February 2. The stock of PDL BioPharma Inc (NASDAQ:PDLI) has “Sector Perform” rating given on Friday, October 16 by RBC Capital Markets. RBC Capital Markets maintained it with “Sector Perform” rating and $4 target price in Tuesday, February 23 report. RBC Capital Markets maintained PDL BioPharma Inc (NASDAQ:PDLI) on Thursday, November 5 with “Sector Perform” rating.
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 dropped, 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.
Wealthtrust Axiom Lc, a Pennsylvania-based fund reported 30,000 shares. Cetera Advisor Ltd Com has 25,560 shares for 0% of their US portfolio. The New York-based Cornerstone Hldg Limited Liability Co has invested 0.01% in PDL BioPharma Inc (NASDAQ:PDLI). Spot Trading Ltd Liability has 6,800 shares for 0% of their US portfolio. Sei Invs, a Pennsylvania-based fund reported 572 shares. State Common Retirement Fund has 0% invested in the company for 155,100 shares. Finance Architects owns 3,500 shares or 0% of their US portfolio. Great West Life Assurance Can holds 16,167 shares or 0% of its portfolio. Ifrah Ser owns 33,643 shares or 0.04% of their US portfolio. Moreover, Employees Retirement Association Of Colorado has 0% invested in PDL BioPharma Inc (NASDAQ:PDLI) for 57,000 shares. International Grp owns 394,049 shares or 0% of their US portfolio. First Eagle Inv Mgmt Limited Co last reported 0% of its portfolio in the stock. Teachers Advsr Incorporated owns 255,824 shares or 0% of their US portfolio. The Massachusetts-based Fmr Limited Company has invested 0% in PDL BioPharma Inc (NASDAQ:PDLI). Pnc Fincl Service Group Inc reported 9,791 shares or 0% of all its holdings.
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.
More important recent PDL BioPharma Inc (NASDAQ:PDLI) news were published by: Prnewswire.com which released: “PDL BioPharma Issues $150.0 Million of 2.75% Convertible Senior Notes Due 2021” on November 22, 2016, also Prnewswire.com published article titled: “PDL BioPharma to Present at the 28th Annual Piper Jaffray Healthcare Conference”, 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) was released by: Fool.com and their article: “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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