The stock of PDL BioPharma Inc (NASDAQ:PDLI) is a huge mover today! About 691,731 shares traded hands. PDL BioPharma Inc (NASDAQ:PDLI) has declined 41.76% since April 28, 2016 and is downtrending. It has underperformed by 47.68% the S&P500.
The move comes after 9 months positive chart setup for the $351.45 million company. It was reported on Dec, 1 by Barchart.com. We have $2.38 PT which if reached, will make NASDAQ:PDLI worth $24.60 million more.
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 $25.33M for 3.47 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. PDL BioPharma has been the topic of 5 analyst reports since October 16, 2015 according to StockzIntelligence Inc. The stock of PDL BioPharma Inc (NASDAQ:PDLI) has “Sector Perform” rating given on Friday, October 16 by RBC Capital Markets. The firm earned “Sector Perform” rating on Tuesday, February 2 by RBC Capital Markets. As per Thursday, November 5, the company rating was maintained by RBC Capital Markets. The firm has “Sector Perform” rating by RBC Capital Markets given on Tuesday, February 23.
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 turned negative, 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.
Blackrock Japan Limited has 0% invested in the company for 4,242 shares. Zurcher Kantonalbank (Zurich Cantonalbank) owns 15,827 shares or 0% of their US portfolio. Eqis Cap Mgmt holds 0.07% of its portfolio in PDL BioPharma Inc (NASDAQ:PDLI) for 347,925 shares. Secor Capital Limited Partnership accumulated 141,264 shares or 0.06% of the stock. Teachers Advisors holds 0% of its portfolio in PDL BioPharma Inc (NASDAQ:PDLI) for 255,824 shares. Deutsche National Bank Ag holds 0% or 422,224 shares in its portfolio. Ironwood Financial Lc last reported 0% of its portfolio in the stock. Virginia Retirement System Et Al accumulated 0% or 52,400 shares. Alps Advsrs holds 0.01% of its portfolio in PDL BioPharma Inc (NASDAQ:PDLI) for 368,094 shares. Evercore Wealth Mgmt Ltd Limited Liability Company last reported 0% of its portfolio in the stock. Moreover, Canada Pension Plan Investment Board has 0.03% invested in PDL BioPharma Inc (NASDAQ:PDLI) for 2.13 million shares. Federated Pa has invested 0.01% of its portfolio in PDL BioPharma Inc (NASDAQ:PDLI). Int Gru owns 394,049 shares or 0% of their US portfolio. The New York-based Blackrock has invested 0% in PDL BioPharma Inc (NASDAQ:PDLI). Grantham Mayo Van Otterloo And Co Ltd Com accumulated 2.85 million shares or 0.04% of the stock.
Insider Transactions: Since August 9, 2016, the stock had 1 insider purchase, and 0 selling transactions for $29,950 net activity. On Tuesday, August 9 GARCIA PETER S bought $29,950 worth of the stock or 10,000 shares.
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: Prnewswire.com and their article: “PDL BioPharma Prices Public Offering of $150.0 Million of 2.75% Convertible …” published on November 17, 2016 as well as Fool.com‘s news article titled: “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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