MetLife Investment Advisors LLC decreased its position in shares of PDL BioPharma Inc (NASDAQ:PDLI) by 31.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,001 shares of the biotechnology company’s stock after selling 35,507 shares during the period. MetLife Investment Advisors LLC owned approximately 0.05% of PDL BioPharma worth $220,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dupont Capital Management Corp purchased a new stake in PDL BioPharma during the fourth quarter valued at about $579,000. Chicago Equity Partners LLC purchased a new stake in PDL BioPharma during the fourth quarter valued at about $302,000. West Family Investments Inc. raised its position in PDL BioPharma by 8.5% during the fourth quarter. West Family Investments Inc. now owns 680,950 shares of the biotechnology company’s stock valued at $1,975,000 after purchasing an additional 53,150 shares in the last quarter. Nomura Holdings Inc. raised its position in PDL BioPharma by 5.2% during the fourth quarter. Nomura Holdings Inc. now owns 916,947 shares of the biotechnology company’s stock valued at $2,654,000 after purchasing an additional 44,944 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in PDL BioPharma during the third quarter valued at about $536,000. Institutional investors and hedge funds own 93.10% of the company’s stock.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded PDL BioPharma from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. TheStreet upgraded PDL BioPharma from a “d+” rating to a “c-” rating in a research report on Wednesday, February 6th. ValuEngine downgraded PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Friday, January 4th. Finally, BidaskClub upgraded PDL BioPharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 23rd. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. PDL BioPharma has an average rating of “Buy” and an average target price of $3.00.
PDLI opened at $3.58 on Friday. The stock has a market capitalization of $458.63 million, a PE ratio of 9.68 and a beta of 0.59. The company has a current ratio of 9.86, a quick ratio of 9.50 and a debt-to-equity ratio of 0.17. PDL BioPharma Inc has a 12 month low of $2.25 and a 12 month high of $3.89.
PDL BioPharma (NASDAQ:PDLI) last released its quarterly earnings data on Thursday, March 14th. The biotechnology company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The firm had revenue of $45.12 million for the quarter. PDL BioPharma had a positive return on equity of 6.76% and a negative net margin of 34.76%. During the same quarter in the prior year, the firm posted $0.15 EPS. On average, analysts predict that PDL BioPharma Inc will post 0.25 earnings per share for the current year.
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PDL BioPharma Profile
PDL BioPharma, Inc acquires, manages, and commercializes commercial stage pharmaceutical assets and late clinical stage pharmaceutical products in the United States, Europe, and internationally. The company operates in three segments: Pharmaceutical, Medical Devices, and Income Generating Assets. The Pharmaceutical segment manufactures, markets, and sells prescription medicine products for the treatment of hypertension to wholesalers under the Tekturna and Tekturna HCT names in the United States, as well as under the Rasilez and Rasilez HCT names internationally.
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