Fmr LLC held its stake in shares of PDL BioPharma, Inc. (NASDAQ:PDLI) during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 934,050 shares of the biotechnology company’s stock at the end of the first quarter. Fmr LLC owned 0.56% of PDL BioPharma worth $2,120,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of PDL BioPharma by 15.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,282,180 shares of the biotechnology company’s stock valued at $9,078,000 after buying an additional 582,265 shares in the last quarter. State Street Corp boosted its position in shares of PDL BioPharma by 8.8% in the fourth quarter. State Street Corp now owns 4,269,317 shares of the biotechnology company’s stock valued at $9,052,000 after buying an additional 343,986 shares during the last quarter. Norges Bank bought a new position in shares of PDL BioPharma during the fourth quarter valued at approximately $5,068,000. Russell Investments Group Ltd. boosted its position in shares of PDL BioPharma by 12.9% in the first quarter. Russell Investments Group Ltd. now owns 2,185,731 shares of the biotechnology company’s stock valued at $4,961,000 after buying an additional 249,671 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of PDL BioPharma by 15.4% in the first quarter. JPMorgan Chase & Co. now owns 1,773,425 shares of the biotechnology company’s stock valued at $4,025,000 after buying an additional 236,745 shares during the last quarter. Institutional investors own 84.21% of the company’s stock.

PDL BioPharma, Inc. (NASDAQ:PDLI) opened at 2.17 on Friday. PDL BioPharma, Inc. has a one year low of $1.93 and a one year high of $3.77. The company has a market cap of $349.34 million, a PE ratio of 23.85 and a beta of 0.58. The firm has a 50-day moving average of $2.41 and a 200-day moving average of $2.28.

PDL BioPharma (NASDAQ:PDLI) last posted its earnings results on Thursday, August 3rd. The biotechnology company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.30. The business had revenue of $143.80 million for the quarter, compared to analysts’ expectations of $56.30 million. PDL BioPharma had a net margin of 8.02% and a return on equity of 6.06%. The firm’s revenue for the quarter was up 584.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. On average, analysts predict that PDL BioPharma, Inc. will post $0.26 EPS for the current year.

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Several brokerages have recently commented on PDLI. BidaskClub cut shares of PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. ValuEngine cut shares of PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Cowen and Company reaffirmed a “hold” rating on shares of PDL BioPharma in a research report on Wednesday, May 3rd. Finally, Zacks Investment Research raised shares of PDL BioPharma from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target 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.

Institutional Ownership by Quarter for PDL BioPharma (NASDAQ:PDLI)

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