PDL BioPharma Inc. [NASDAQ: PDLI] stock went on an upward path that rose over 4.78% on Friday, amounting to a one-week price increase of more than 7.59%. The company report on November 12, 2020 that PDL BioPharma Reports 2020 Third Quarter Financial Results and Sets Date To File a Certificate of Dissolution.
– Consummated critical monetization transactions during third quarter, including the sale of its Noden pharmaceutical business and of a basket of royalties to SWK Holdings. Also entered into a settlement agreement with Wellstat. Subsequently completed the spin-off of its medical device company, LENSAR, on October 1, 2020.
– As of September 30, 2020, prior to the spin-off of LENSAR, net assets in liquidation were $494.7 million. Net assets attributable to LENSAR on September 30, 2020 were $112.4 million.
Over the last 12 months, PDLI stock rose by 5.97%. The one-year PDL BioPharma Inc. stock forecast points to a potential upside of 3.6.
The market cap for the stock reached $262.21 million, with 115.91 million shares outstanding and 110.01 million shares in the current float. Compared to the average trading volume of 1.07M shares, PDLI stock reached a trading volume of 3559651 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on PDL BioPharma Inc. [PDLI]:
Piper Jaffray have made an estimate for PDL BioPharma Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 22, 2016. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $5 to $4. The new note on the price target was released on February 23, 2016, representing the official price target for PDL BioPharma Inc. stock. Previously, the target price had yet another drop from $6 to $5, while RBC Capital Mkts kept a Sector Perform rating on PDLI stock. On November 05, 2015, analysts decreased their price target for PDLI shares from 7 to 6.
The Average True Range (ATR) for PDL BioPharma Inc. is set at 0.10, with the Price to Sales ratio for PDLI stock in the period of the last 12 months amounting to 5.06. The Price to Book ratio for the last quarter was 0.66, with the Price to Cash per share for the same quarter was set at 0.97.
PDLI Stock Performance Analysis:
PDL BioPharma Inc. [PDLI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.59. With this latest performance, PDLI shares gained by 2.55% in over the last four-week period, additionally sinking by -18.63% over the last 6 months – not to mention a rise of 5.97% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PDLI stock in for the last two-week period is set at 54.53, with the RSI for the last a single of trading hit 65.58, and the three-weeks RSI is set at 47.23 for PDL BioPharma Inc. [PDLI]. The present Moving Average for the last 50 days of trading for this stock 2.66, while it was recorded at 2.27 for the last single week of trading, and 3.05 for the last 200 days.
Insight into PDL BioPharma Inc. Fundamentals:
PDL BioPharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.30 and a Current Ratio set at 13.70.
PDLI Stock EPS
With the latest financial reports released by the company, PDL BioPharma Inc. posted -0.48/share EPS, while the average EPS was predicted by analysts to be reported at 0.05/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -1,060.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PDLI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PDL BioPharma Inc. go to 14.00%.
PDL BioPharma Inc. [PDLI] Insider Position Details
There are presently around $214 million, or 89.50% of PDLI stock, in the hands of institutional investors. The top three institutional holders of PDLI stocks are: BLACKROCK INC. with ownership of 9,813,602, which is approximately -1.489% of the company’s market cap and around 0.90% of the total institutional ownership; DIMENSIONAL FUND ADVISORS LP, holding 9,318,552 shares of the stock with an approximate value of $22.46 million in PDLI stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $18.31 million in PDLI stock with ownership of nearly -8.393% of the company’s market capitalization.
52 institutional holders increased their position in PDL BioPharma Inc. [NASDAQ:PDLI] by around 4,782,951 shares. Additionally, 76 investors decreased positions by around 11,470,497 shares, while 31 investors held positions by with 72,633,433 shares. The mentioned changes placed institutional holdings at 88,886,881 shares, according to the latest SEC report filing. PDLI stock had 22 new institutional investments in for a total of 2,083,516 shares, while 26 institutional investors sold positions of 2,048,349 shares during the same period.