Analyst Price Target Update on PDL BioPharma (NASDAQ:PDLI)

PDL BioPharma (NASDAQ:PDLI): The stock price is expected to reach $ 3.75 in the short term. The number of analysts agreeing with this consensus is 2. The higher estimate for the short term price target is at $4 while the lower estimate is at $4. The standard deviation of the price stands at $0.35.

Company shares have received an average consensus rating of Hold for the current week

On the companys insider trading activities, Garcia Peter S, CFO of Pdl Biopharma, Inc., executed a transaction worth $52,950 on December 14, 2015. A total of 15,000 shares were purchased at an average price of $3.53. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

PDL BioPharma (NASDAQ:PDLI) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.09 points or 2.86% at $3.06 with 1,387,630 shares getting traded. Post opening the session at $3.13, the shares hit an intraday low of $3.06 and an intraday high of $3.16 and the price was in this range throughout the day. The company has a market cap of $505 million and the number of outstanding shares have been calculated to be 165,114,610 shares. The 52-week high of PDL BioPharma (NASDAQ:PDLI) is $6.75 and the 52-week low is $2.58.

PDL BioPharma, 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. It is focused on intellectual property asset management, acquiring new income generating assets and maximizing value for its stockholders. The Company receives royalties on a number of marketed products that use its technology and it has liscensed a number of humanized antibody products in late-stage clinical trials. As of December 31, 2014, the Company received royalties on sales of the ten humanized antibody products, which include Avastin, Herceptin, Xolair, Lucentis, Perjeta, Kadcyla, Tysabri, Actemra, Gazyva and Entyvio.

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