AQR Capital Management LLC Raises Stake in PDL BioPharma, Inc. (PDLI)
AQR Capital Management LLC boosted its stake in shares of PDL BioPharma, Inc. (NASDAQ:PDLI) by 22.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 4,546,501 shares of the biotechnology company’s stock after buying an additional 820,481 shares during the period. AQR Capital Management LLC owned approximately 2.82% of PDL BioPharma worth $10,321,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in 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 valued at $104,000 after buying an additional 14,000 shares during the last quarter. Airain ltd bought a new position in shares of PDL BioPharma during the first quarter worth approximately $107,000. KBC Group NV bought a new position in shares of PDL BioPharma during the first quarter worth approximately $107,000. Credit Agricole S A boosted its position in shares of 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 in the last quarter. Finally, Brandes Investment Partners LP bought a new position in shares of PDL BioPharma during the first quarter worth approximately $133,000. 84.21% of the stock is currently owned by hedge funds and other institutional investors.
PDL BioPharma, Inc. (NASDAQ:PDLI) traded down 2.25% during mid-day trading on Thursday, hitting $2.17. 1,010,695 shares of the stock traded hands. PDL BioPharma, Inc. has a 12 month low of $1.93 and a 12 month high of $3.77. The stock has a market cap of $349.34 million, a P/E ratio of 24.11 and a beta of 0.59. The stock has a 50-day moving average price of $2.41 and a 200-day moving average price of $2.28.
PDL BioPharma (NASDAQ:PDLI) last posted its earnings results on Wednesday, May 3rd. The biotechnology company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. PDL BioPharma had a net margin of 8.02% and a return on equity of 6.06%. The business had revenue of $45.44 million for the quarter. On average, equities analysts forecast that PDL BioPharma, Inc. will post $0.26 earnings per share for the current year.
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PDLI has been the subject of a number of analyst reports. BidaskClub lowered PDL BioPharma from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. ValuEngine lowered PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research raised shares of PDL BioPharma from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Finally, Cowen and Company reissued a “hold” rating on shares of PDL BioPharma in a research note on Wednesday, May 3rd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. PDL BioPharma currently has a consensus rating of “Hold” and a consensus price target of $3.50.
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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