PDL BioPharma (NASDAQ:PDLI) : Traders are bullish on PDL BioPharma (NASDAQ:PDLI) as it has outperformed the S&P 500 by a wide margin of 2.47% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.57%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.86% in the last 1 week, and is up 4.13% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have dropped -48.35% from its 1 Year high price. On Jul 16, 2015, the shares registered one year high at $6.63 and the one year low was seen on Feb 3, 2016. The 50-Day Moving Average price is $3.22 and the 200 Day Moving Average price is recorded at $3.25.
The stock has recorded a 20-day Moving Average of 5.38% and the 50-Day Moving Average is 1.67%.
PDL BioPharma (NASDAQ:PDLI): stock turned positive on Friday. Though the stock opened at $3.2, the bulls momentum made the stock top out at $3.29 level for the day. The stock recorded a low of $3.1972 and closed the trading day at $3.28, in the green by 3.14%. The total traded volume for the day was 1,312,030. The stock had closed at $3.18 in the previous days trading.
In an insider trading activity, 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, 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.