The stock of PDL BioPharma Inc (NASDAQ:PDLI) is a huge mover today! About 447,981 shares traded hands. PDL BioPharma Inc (NASDAQ:PDLI) has declined 6.41% since March 7, 2016 and is downtrending. It has underperformed by 14.01% the S&P500.
The move comes after 6 months positive chart setup for the $557.55 million company. It was reported on Oct, 10 by Barchart.com. We have $5.08 PT which if reached, will make NASDAQ:PDLI worth $273.20M more.
Analysts await PDL BioPharma Inc (NASDAQ:PDLI) to report earnings on November, 2.
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 stock has “Sector Perform” rating given by RBC Capital Markets on Friday, October 16. The rating was maintained by RBC Capital Markets on Tuesday, February 2 with “Sector Perform”. On Tuesday, February 23 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. RBC Capital Markets maintained the stock with “Sector Perform” rating in Thursday, November 5 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 increased to 1.23 in Q2 2016. Its up 0.17, from 1.06 in 2016Q1. The ratio increased, 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.
Swiss National Bank & Trust accumulated 247,200 shares or 0% of the stock. Balyasny Asset Management Limited Liability Corporation holds 0% of its portfolio in PDL BioPharma Inc (NASDAQ:PDLI) for 45,432 shares. Art Advsr Ltd Liability Company accumulated 0.07% or 432,031 shares. Moreover, Wfg Advsrs Limited Partnership has 0% invested in PDL BioPharma Inc (NASDAQ:PDLI) for 654 shares. Millennium Mgmt Limited owns 593,778 shares or 0% of their US portfolio. Vanguard Grp has 0% invested in the company for 11.40 million shares. Grantham Mayo Van Otterloo & holds 0.04% of its portfolio in PDL BioPharma Inc (NASDAQ:PDLI) for 2.85 million shares. Qs Invsts Limited reported 1.22M shares or 0.03% of all its holdings. Systematic Financial Mngmt Limited Partnership reported 591,495 shares or 0.03% of all its holdings. Ig Investment Mgmt Ltd holds 2.24M shares or 0.03% of its portfolio. Moreover, Quantitative Inv Mgmt Limited Liability Corp has 0.01% invested in PDL BioPharma Inc (NASDAQ:PDLI) for 35,200 shares. First Eagle Investment Management Lc last reported 0% of its portfolio in the stock. Barclays Public Ltd Liability holds 0% of its portfolio in PDL BioPharma Inc (NASDAQ:PDLI) for 20,449 shares. The New York-based Tower Limited Liability (Trc) has invested 0% in PDL BioPharma Inc (NASDAQ:PDLI). The Germany-based Deutsche Savings Bank Ag 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. $29,950 worth of PDL BioPharma Inc (NASDAQ:PDLI) was bought by GARCIA PETER S on Tuesday, August 9.
More notable recent PDL BioPharma Inc (NASDAQ:PDLI) news were published by: Fool.com which released: “Why PDL BioPharma, Inc.’s 13% Rally in April Probably Isn’t Sustainable” on May 10, 2016, also Fool.com with their article: “This Expected News Sent PDL BioPharma Inc. Down 17% in August” published on September 07, 2016, Fool.com published: “PDL BioPharma, Inc. Is Off 10% in 2016, and This Is a Big Reason Why” on June 20, 2016. More interesting news about PDL BioPharma Inc (NASDAQ:PDLI) were released by: Fool.com and their article: “PDL BioPharma, Inc. Shares Just Fell Off a Cliff — Here’s Why” published on February 02, 2016 as well as Fool.com‘s news article titled: “Why PDL BioPharma, Inc. Shares Are Crashing Today” with publication date: November 05, 2015.
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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