PDL BioPharma Inc. (PDLI) Short Interest Update
PDL BioPharma Inc. (NASDAQ:PDLI) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 6,892,144 shares, a drop of 14.7% from the October 14th total of 8,077,613 shares. Based on an average daily volume of 1,085,031 shares, the days-to-cover ratio is presently 6.4 days. Currently, 4.5% of the shares of the stock are sold short.
Shares of PDL BioPharma (NASDAQ:PDLI) opened at 3.58 on Friday. The stock has a market cap of $592.63 million, a PE ratio of 2.55 and a beta of 0.67. The firm has a 50-day moving average price of $3.26 and a 200 day moving average price of $3.22. PDL BioPharma has a 12-month low of $2.58 and a 12-month high of $4.06.
PDL BioPharma (NASDAQ:PDLI) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. PDL BioPharma had a return on equity of 29.87% and a net margin of 49.04%. The company earned $53.60 million during the quarter, compared to analysts’ expectations of $50.69 million. During the same quarter in the prior year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was down 57.0% compared to the same quarter last year. Equities research analysts predict that PDL BioPharma will post $0.56 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Ifrah Financial Services Inc. raised its stake in shares of PDL BioPharma by 3.4% in the second quarter. Ifrah Financial Services Inc. now owns 33,643 shares of the company’s stock valued at $106,000 after buying an additional 1,107 shares during the period. Boothbay Fund Management LLC raised its stake in shares of PDL BioPharma by 3.2% in the first quarter. Boothbay Fund Management LLC now owns 49,069 shares of the company’s stock valued at $163,000 after buying an additional 1,534 shares during the period. Hsbc Holdings PLC raised its stake in shares of PDL BioPharma by 0.8% in the second quarter. Hsbc Holdings PLC now owns 222,831 shares of the company’s stock valued at $700,000 after buying an additional 1,716 shares during the period. ProShare Advisors LLC raised its stake in shares of PDL BioPharma by 1.4% in the second quarter. ProShare Advisors LLC now owns 144,626 shares of the company’s stock valued at $454,000 after buying an additional 1,965 shares during the period. Finally, Nationwide Fund Advisors raised its stake in shares of PDL BioPharma by 2.6% in the second quarter. Nationwide Fund Advisors now owns 108,953 shares of the company’s stock valued at $342,000 after buying an additional 2,713 shares during the period. Institutional investors and hedge funds own 75.28% of the company’s stock.
A number of analysts recently commented on the company. Cowen and Company reiterated a “hold” rating on shares of PDL BioPharma in a research report on Thursday, November 3rd. Zacks Investment Research cut PDL BioPharma from a “buy” rating to a “hold” rating in a report on Wednesday, October 19th.
PDL BioPharma Company Profile
PDL BioPharma, Inc, formerly Protein Design Labs, Inc, 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 Company 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.
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