BidaskClub Downgrades PDL BioPharma (PDLI) to Strong Sell

PDL BioPharma (NASDAQ:PDLI) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday.

A number of other analysts have also weighed in on PDLI. Cowen reiterated a “hold” rating and issued a $3.00 price objective on shares of PDL BioPharma in a research note on Friday, October 27th. ValuEngine upgraded shares of PDL BioPharma from a “hold” rating to a “buy” rating in a research note on Saturday, November 25th. Finally, Zacks Investment Research lowered shares of PDL BioPharma from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $3.33.

PDL BioPharma (NASDAQ:PDLI) opened at $2.48 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.10 and a current ratio of 3.16. PDL BioPharma has a 52 week low of $1.96 and a 52 week high of $3.55. The stock has a market cap of $382.76, a P/E ratio of 4.96 and a beta of 0.48.

Several large investors have recently added to or reduced their stakes in PDLI. Dimensional Fund Advisors LP increased its stake in shares of PDL BioPharma by 30.7% in the second quarter. Dimensional Fund Advisors LP now owns 7,428,030 shares of the biotechnology company’s stock worth $18,348,000 after acquiring an additional 1,744,380 shares during the period. Mackenzie Financial Corp increased its stake in shares of PDL BioPharma by 39.0% in the third quarter. Mackenzie Financial Corp now owns 5,074,015 shares of the biotechnology company’s stock worth $17,201,000 after acquiring an additional 1,423,471 shares during the period. Northern Trust Corp increased its stake in shares of PDL BioPharma by 48.7% in the second quarter. Northern Trust Corp now owns 2,846,346 shares of the biotechnology company’s stock worth $7,030,000 after acquiring an additional 931,730 shares during the period. SG Americas Securities LLC increased its stake in shares of PDL BioPharma by 2,789.8% in the fourth quarter. SG Americas Securities LLC now owns 822,790 shares of the biotechnology company’s stock worth $2,254,000 after acquiring an additional 794,318 shares during the period. Finally, BlackRock Inc. increased its stake in shares of PDL BioPharma by 5.1% in the fourth quarter. BlackRock Inc. now owns 14,711,963 shares of the biotechnology company’s stock worth $40,311,000 after acquiring an additional 713,150 shares during the period. Hedge funds and other institutional investors own 89.42% of the company’s stock.

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About PDL BioPharma

PDL BioPharma, Inc seeks to provide return for its shareholders by acquiring and managing a portfolio of companies, products, royalty agreements and debt facilities in the biotechnology, pharmaceutical and medical device industries. The Company’s segments include income generating assets and product sales.

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