PDL BioPharma Inc (PDLI) Given $3.50 Average Target Price by Brokerages

PDL BioPharma Inc (NASDAQ:PDLI) has received an average broker rating score of 0.00 () from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.

Brokerages have set a 1-year consensus price objective of $3.50 for the company and are anticipating that the company will post $0.05 EPS for the current quarter, according to Zacks. Zacks has also assigned PDL BioPharma an industry rank of 150 out of 265 based on the ratings given to its competitors.

PDLI has been the subject of several research reports. Zacks Investment Research cut shares of PDL BioPharma from a “buy” rating to a “hold” rating in a research note on Tuesday, January 17th. Piper Jaffray Companies initiated coverage on shares of PDL BioPharma in a research note on Thursday, December 22nd. They set an “overweight” rating and a $4.00 price objective for the company.

In other PDL BioPharma news, VP Peter S. Garcia purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, March 24th. The stock was purchased at an average cost of $1.98 per share, with a total value of $49,500.00. Following the transaction, the vice president now owns 452,492 shares in the company, valued at $895,934.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in PDLI. Creative Planning boosted its stake in shares of PDL BioPharma by 54.6% in the third quarter. Creative Planning now owns 66,260 shares of the company’s stock worth $222,000 after buying an additional 23,410 shares during the period. First Quadrant L P CA boosted its stake in shares of PDL BioPharma by 134.2% in the third quarter. First Quadrant L P CA now owns 401,946 shares of the company’s stock worth $1,347,000 after buying an additional 230,346 shares during the period. California Public Employees Retirement System boosted its stake in shares of PDL BioPharma by 13.5% in the third quarter. California Public Employees Retirement System now owns 606,200 shares of the company’s stock worth $2,031,000 after buying an additional 72,100 shares during the period. Old Mutual Global Investors UK Ltd. boosted its stake in shares of PDL BioPharma by 67.9% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,061,843 shares of the company’s stock worth $3,557,000 after buying an additional 429,348 shares during the period. Finally, Alambic Investment Management L.P. boosted its stake in shares of PDL BioPharma by 6.1% in the third quarter. Alambic Investment Management L.P. now owns 148,800 shares of the company’s stock worth $498,000 after buying an additional 8,500 shares during the period. 78.88% of the stock is owned by hedge funds and other institutional investors.

PDL BioPharma (NASDAQ:PDLI) opened at 2.05 on Tuesday. The stock has a market cap of $339.39 million, a price-to-earnings ratio of 5.28 and a beta of 0.52. PDL BioPharma has a 12-month low of $1.93 and a 12-month high of $3.84. The company has a 50-day moving average price of $2.18 and a 200 day moving average price of $2.60.

TRADEMARK VIOLATION NOTICE: This piece was first reported by Mideast Time and is the property of of Mideast Time. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece can be read at https://www.mideasttime.com/pdl-biopharma-inc-pdli-given-3-50-average-target-price-by-brokerages/1589922.html.

About PDL BioPharma

PDL BioPharma, Inc, formerly Protein Design Labs, Inc, 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 Company 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.

5 Day Chart for NASDAQ:PDLI

Get a free copy of the Zacks research report on PDL BioPharma (PDLI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for PDL BioPharma Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDL BioPharma Inc and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.