PDL BioPharma (NASDAQ:PDLI) : 2 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on PDL BioPharma (NASDAQ:PDLI). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 2 Wall Street Analysts endorse the stock as a Hold with a rating of 3.
PDL BioPharma (NASDAQ:PDLI) : The most positive equity analysts on PDL BioPharma (NASDAQ:PDLI) expects the shares to touch $4, whereas, the least positive believes that the stock will trade at $4 in the short term. The company is covered by 2 Wall Street Brokerage Firms. The average price target for shares are $3.75 with an expected fluctuation of $0.35 from the mean.
Company shares have received an average consensus rating of Hold for the current week
PDL BioPharma (NASDAQ:PDLI): stock turned positive on Tuesday. Though the stock opened at $2.99, the bulls momentum made the stock top out at $3.12 level for the day. The stock recorded a low of $2.98 and closed the trading day at $3.04, in the green by 3.05%. The total traded volume for the day was 1,475,619. The stock had closed at $2.95 in the previous days trading.
In an insider trading activity, Garcia Peter S, CFO of Pdl Biopharma, Inc. had purchased 15,000 shares on December 14, 2015 in a transaction. The price per share was $3.53 and the total amount of the disclosed transaction was $52,950.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
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.