PDL BioPharma Inc (PDLI) Position Raised by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in shares of PDL BioPharma Inc (NASDAQ:PDLI) by 0.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 9,688,354 shares of the biotechnology company’s stock after buying an additional 39,500 shares during the quarter. Renaissance Technologies LLC owned 0.06% of PDL BioPharma worth $22,671,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in PDL BioPharma by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 12,514,490 shares of the biotechnology company’s stock worth $29,284,000 after purchasing an additional 996,690 shares in the last quarter. West Family Investments Inc. acquired a new position in PDL BioPharma in the second quarter worth approximately $791,000. GSA Capital Partners LLP grew its position in PDL BioPharma by 9.6% in the second quarter. GSA Capital Partners LLP now owns 430,100 shares of the biotechnology company’s stock worth $1,006,000 after buying an additional 37,824 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in PDL BioPharma by 4.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,575,598 shares of the biotechnology company’s stock worth $8,367,000 after buying an additional 142,413 shares during the last quarter. Finally, Strs Ohio grew its position in PDL BioPharma by 24.7% in the second quarter. Strs Ohio now owns 308,100 shares of the biotechnology company’s stock worth $720,000 after buying an additional 61,100 shares during the last quarter. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

PDL BioPharma stock opened at $2.43 on Monday. The company has a current ratio of 11.13, a quick ratio of 10.80 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $353.32 million, a price-to-earnings ratio of 3.86 and a beta of 0.30. PDL BioPharma Inc has a 1 year low of $2.25 and a 1 year high of $3.55.

PDL BioPharma (NASDAQ:PDLI) last posted its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.04. The firm had revenue of $46.58 million for the quarter. PDL BioPharma had a negative net margin of 31.33% and a positive return on equity of 8.92%. sell-side analysts predict that PDL BioPharma Inc will post -0.6 earnings per share for the current year.

Several research analysts have issued reports on PDLI shares. TheStreet lowered shares of PDL BioPharma from a “c-” rating to a “d+” rating in a research report on Friday, August 17th. ValuEngine lowered shares of PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. BidaskClub lowered shares of PDL BioPharma from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 8th. Cowen restated a “hold” rating and issued a $2.50 price target on shares of PDL BioPharma in a research report on Thursday, June 14th. Finally, Zacks Investment Research upgraded shares of PDL BioPharma from a “sell” rating to a “hold” rating in a research report on Tuesday, June 19th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $3.00.

PDL BioPharma Profile

PDL BioPharma, Inc acquires and manages companies, products, royalty agreements, and debt facilities in the biotechnology, pharmaceutical, and medical device industries in the United States, Europe, and internationally. The company operates in three segments: Income Generating Assets, Pharmaceutical, and Medical Devices.

Recommended Story: Ex-Dividend

Want to see what other hedge funds are holding PDLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PDL BioPharma Inc (NASDAQ:PDLI).

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

Receive News & Ratings for PDL BioPharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDL BioPharma and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply