Canada Pension Plan Investment Board decreased its position in PDL BioPharma, Inc. (NASDAQ:PDLI) by 29.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,513,638 shares of the biotechnology company’s stock after selling 618,962 shares during the period. Canada Pension Plan Investment Board owned about 0.94% of PDL BioPharma worth $3,739,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PDL BioPharma by 43.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,948 shares of the biotechnology company’s stock worth $104,000 after buying an additional 14,000 shares during the last quarter. Airain ltd purchased a new position in PDL BioPharma during the first quarter worth approximately $107,000. KBC Group NV purchased a new position in PDL BioPharma during the first quarter worth approximately $107,000. Credit Agricole S A boosted its position in PDL BioPharma by 34.9% in the first quarter. Credit Agricole S A now owns 50,000 shares of the biotechnology company’s stock worth $114,000 after buying an additional 12,942 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in PDL BioPharma by 15.3% in the first quarter. Public Employees Retirement System of Ohio now owns 55,423 shares of the biotechnology company’s stock worth $126,000 after buying an additional 7,336 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of PDL BioPharma, Inc. (PDLI) opened at 2.78 on Thursday. The company has a 50 day moving average of $2.50 and a 200-day moving average of $2.32. PDL BioPharma, Inc. has a 52 week low of $1.93 and a 52 week high of $3.77. The company has a market cap of $428.34 million, a price-to-earnings ratio of 6.39 and a beta of 0.58.
PDL BioPharma (NASDAQ:PDLI) last released its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.17. The business had revenue of $143.80 million during the quarter, compared to the consensus estimate of $56.30 million. PDL BioPharma had a return on equity of 9.07% and a net margin of 23.03%. The firm’s quarterly revenue was up 584.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. On average, equities research analysts expect that PDL BioPharma, Inc. will post $0.61 earnings per share for the current fiscal year.
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A number of research firms have recently commented on PDLI. Piper Jaffray Companies reissued a “buy” rating and set a $4.00 target price on shares of PDL BioPharma in a research report on Thursday, August 10th. BidaskClub raised shares of PDL BioPharma from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research raised shares of PDL BioPharma from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research report on Wednesday, August 16th. ValuEngine raised shares of PDL BioPharma from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Finally, Cowen and Company reissued a “hold” rating on shares of PDL BioPharma in a research report on Wednesday, May 3rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. PDL BioPharma presently has an average rating of “Buy” and a consensus target price of $3.50.
About PDL BioPharma
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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