Magnetar Financial LLC increased its position in shares of PDL BioPharma Inc (NASDAQ:PDLI) by 13.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 325,833 shares of the biotechnology company’s stock after buying an additional 39,545 shares during the quarter. Magnetar Financial LLC’s holdings in PDL BioPharma were worth $1,023,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in PDLI. DekaBank Deutsche Girozentrale raised its holdings in shares of PDL BioPharma by 211.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 161,610 shares of the biotechnology company’s stock worth $386,000 after acquiring an additional 109,710 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of PDL BioPharma during the first quarter worth $323,000. Hancock Whitney Corp raised its holdings in shares of PDL BioPharma by 8.1% during the first quarter. Hancock Whitney Corp now owns 252,479 shares of the biotechnology company’s stock worth $939,000 after acquiring an additional 18,895 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of PDL BioPharma during the first quarter worth $160,000. Finally, WINTON GROUP Ltd raised its holdings in shares of PDL BioPharma by 3.9% during the second quarter. WINTON GROUP Ltd now owns 1,386,885 shares of the biotechnology company’s stock worth $4,355,000 after acquiring an additional 51,942 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.
NASDAQ PDLI traded down $0.03 during trading on Monday, hitting $2.17. 12,408 shares of the company traded hands, compared to its average volume of 2,082,238. PDL BioPharma Inc has a 12 month low of $2.15 and a 12 month high of $3.89. The business has a fifty day simple moving average of $2.39 and a 200 day simple moving average of $3.03. The company has a current ratio of 10.43, a quick ratio of 10.00 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $253.67 million, a P/E ratio of 5.91 and a beta of 0.69.
PDL BioPharma (NASDAQ:PDLI) last posted its earnings results on Wednesday, August 7th. The biotechnology company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. PDL BioPharma had a positive return on equity of 6.61% and a negative net margin of 32.13%. The company had revenue of ($22.53) million for the quarter. Equities research analysts predict that PDL BioPharma Inc will post 0.12 EPS for the current fiscal year.
Several research firms have weighed in on PDLI. BidaskClub lowered PDL BioPharma from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 20th. Cowen set a $3.00 target price on PDL BioPharma and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, ValuEngine lowered PDL BioPharma from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $3.13.
About PDL BioPharma
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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