PDL BioPharma, Inc. (PDLI) Short Interest Update
PDL BioPharma, Inc. (NASDAQ:PDLI) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 18,146,418 shares, an increase of 13.8% from the August 15th total of 15,943,830 shares. Approximately 12.1% of the company’s stock are sold short. Based on an average trading volume of 1,891,101 shares, the short-interest ratio is currently 9.6 days.
PDL BioPharma (NASDAQ:PDLI) opened at 3.31 on Tuesday. The firm has a 50-day moving average of $2.84 and a 200 day moving average of $2.43. PDL BioPharma has a one year low of $1.93 and a one year high of $3.77. The stock has a market capitalization of $510.00 million, a PE ratio of 7.61 and a beta of 0.49.
PDL BioPharma (NASDAQ:PDLI) last issued its earnings results on Thursday, August 3rd. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.17. PDL BioPharma had a net margin of 23.03% and a return on equity of 9.07%. The company had revenue of $143.80 million for the quarter, compared to analysts’ expectations of $56.30 million. During the same period in the prior year, the business earned $0.09 EPS. The firm’s quarterly revenue was up 584.8% on a year-over-year basis. On average, equities research analysts anticipate that PDL BioPharma will post $0.61 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on PDLI shares. ValuEngine cut shares of PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub cut shares of PDL BioPharma from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Piper Jaffray Companies reissued a “buy” rating and set a $4.00 price target on shares of PDL BioPharma in a research report on Thursday, August 10th. Finally, Zacks Investment Research raised shares of PDL BioPharma from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research report on Wednesday, August 16th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $3.50.
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in PDL BioPharma by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 14,180,118 shares of the biotechnology company’s stock worth $32,188,000 after acquiring an additional 827,830 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in PDL BioPharma by 30.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,428,030 shares of the biotechnology company’s stock worth $18,348,000 after acquiring an additional 1,744,380 shares in the last quarter. State Street Corp grew its holdings in PDL BioPharma by 14.4% during the 2nd quarter. State Street Corp now owns 5,042,207 shares of the biotechnology company’s stock worth $12,457,000 after acquiring an additional 632,995 shares in the last quarter. Mackenzie Financial Corp grew its holdings in PDL BioPharma by 2.8% during the 1st quarter. Mackenzie Financial Corp now owns 4,818,609 shares of the biotechnology company’s stock worth $10,938,000 after acquiring an additional 130,784 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in PDL BioPharma by 22.0% during the 1st quarter. AQR Capital Management LLC now owns 4,546,501 shares of the biotechnology company’s stock worth $10,321,000 after acquiring an additional 820,481 shares in the last quarter. Institutional investors own 83.35% of the company’s stock.
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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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