Alps Advisors Inc. lifted its holdings in shares of PDL BioPharma, Inc. (NASDAQ:PDLI) by 63.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 460,946 shares of the biotechnology company’s stock after acquiring an additional 179,300 shares during the quarter. Alps Advisors Inc. owned about 0.30% of PDL BioPharma worth $1,563,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the stock. Prudential Financial Inc. lifted its holdings in shares of PDL BioPharma by 44.8% during the 3rd quarter. Prudential Financial Inc. now owns 1,251,794 shares of the biotechnology company’s stock valued at $4,243,000 after acquiring an additional 387,160 shares in the last quarter. Nine Chapters Capital Management LLC increased its stake in PDL BioPharma by 182.1% during the 3rd quarter. Nine Chapters Capital Management LLC now owns 105,500 shares of the biotechnology company’s stock worth $358,000 after buying an additional 68,100 shares during the period. Shell Asset Management Co. increased its stake in PDL BioPharma by 53.0% during the 3rd quarter. Shell Asset Management Co. now owns 242,091 shares of the biotechnology company’s stock worth $1,808,000 after buying an additional 83,825 shares during the period. Public Employees Retirement System of Ohio increased its stake in PDL BioPharma by 18.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 65,612 shares of the biotechnology company’s stock worth $162,000 after buying an additional 10,189 shares during the period. Finally, Sterling Capital Management LLC purchased a new stake in PDL BioPharma during the 2nd quarter worth $853,000. Institutional investors and hedge funds own 83.38% of the company’s stock.
PDL BioPharma, Inc. (NASDAQ PDLI) traded up $0.01 on Monday, hitting $3.04. 1,403,800 shares of the stock traded hands, compared to its average volume of 1,848,308. The company has a market cap of $468.40, a P/E ratio of 6.33 and a beta of 0.45. PDL BioPharma, Inc. has a one year low of $1.93 and a one year high of $3.77. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.94 and a quick ratio of 1.90.
PDL BioPharma (NASDAQ:PDLI) last released its earnings results on Thursday, November 2nd. The biotechnology company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The company had revenue of $62.75 million during the quarter, compared to the consensus estimate of $61.86 million. PDL BioPharma had a net margin of 24.51% and a return on equity of 9.33%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 EPS. sell-side analysts expect that PDL BioPharma, Inc. will post 0.69 earnings per share for the current year.
PDL BioPharma announced that its board has authorized a stock buyback program on Monday, September 25th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the biotechnology company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Several research firms recently issued reports on PDLI. Cowen and Company reaffirmed a “hold” rating and set a $3.00 price target on shares of PDL BioPharma in a research note on Friday, October 27th. ValuEngine raised shares of PDL BioPharma from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research raised shares of PDL BioPharma from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research note on Wednesday, August 16th. BidaskClub raised shares of PDL BioPharma from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $4.00 price target on shares of PDL BioPharma in a research note on Thursday, August 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. PDL BioPharma presently has a consensus rating of “Buy” and a consensus price target of $3.33.
PDL BioPharma Company Profile
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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