Wall Street analysts expect that PDL BioPharma Inc (NASDAQ:PDLI) will report $0.03 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for PDL BioPharma’s earnings. PDL BioPharma reported earnings of $0.01 per share in the same quarter last year, which would indicate a positive year over year growth rate of 200%. The firm is scheduled to issue its next earnings results after the market closes on Thursday, March 8th.
On average, analysts expect that PDL BioPharma will report full-year earnings of $0.60 per share for the current fiscal year. For the next fiscal year, analysts expect that the business will report earnings of $0.10 per share. Zacks’ EPS averages are an average based on a survey of analysts that follow PDL BioPharma.
A number of analysts have recently weighed in on the company. BidaskClub cut PDL BioPharma from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 13th. ValuEngine raised PDL BioPharma from a “hold” rating to a “buy” rating in a research report on Saturday, November 25th. Cowen reissued a “hold” rating and issued a $3.00 price objective on shares of PDL BioPharma in a research report on Friday, October 27th. Finally, Zacks Investment Research cut PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $3.33.
Shares of PDL BioPharma (PDLI) traded down $0.02 during midday trading on Thursday, reaching $2.45. The company’s stock had a trading volume of 1,423,895 shares, compared to its average volume of 1,240,000. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.16 and a quick ratio of 3.10. The company has a market cap of $378.13, a PE ratio of 4.90 and a beta of 0.48. PDL BioPharma has a 1-year low of $1.96 and a 1-year high of $3.55.
Several institutional investors have recently bought and sold shares of the company. Nationwide Fund Advisors boosted its position in shares of PDL BioPharma by 4.7% in the 2nd quarter. Nationwide Fund Advisors now owns 109,961 shares of the biotechnology company’s stock worth $272,000 after purchasing an additional 4,900 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of PDL BioPharma by 18.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 65,612 shares of the biotechnology company’s stock worth $162,000 after purchasing an additional 10,189 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of PDL BioPharma by 15.7% in the 2nd quarter. Voya Investment Management LLC now owns 82,612 shares of the biotechnology company’s stock worth $204,000 after purchasing an additional 11,235 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of PDL BioPharma by 7.0% in the 2nd quarter. Alliancebernstein L.P. now owns 275,422 shares of the biotechnology company’s stock worth $680,000 after purchasing an additional 18,100 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in PDL BioPharma by 64.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 49,062 shares of the biotechnology company’s stock worth $166,000 after acquiring an additional 19,144 shares during the last quarter. 90.52% of the stock is owned by hedge funds and other institutional investors.
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About PDL BioPharma
PDL BioPharma, Inc seeks to provide return for its shareholders by acquiring and managing a portfolio of companies, products, royalty agreements and debt facilities in the biotechnology, pharmaceutical and medical device industries. The Company’s segments include income generating assets and product sales.
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