PDL BioPharma (PDLI) Announces Quarterly Earnings Results

PDL BioPharma (NASDAQ:PDLI) announced its earnings results on Thursday. The biotechnology company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03, RTT News reports. PDL BioPharma had a negative net margin of 28.41% and a positive return on equity of 7.72%. During the same quarter in the prior year, the company posted $0.15 EPS.

NASDAQ PDLI opened at $3.48 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 10.61 and a current ratio of 10.88. PDL BioPharma has a 12-month low of $2.25 and a 12-month high of $3.82. The company has a market capitalization of $513.84 million, a PE ratio of 5.52 and a beta of 0.59.

A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of PDL BioPharma from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. TheStreet upgraded shares of PDL BioPharma from a “d+” rating to a “c-” rating in a report on Wednesday, February 6th. ValuEngine upgraded shares of PDL BioPharma from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, BidaskClub upgraded shares of PDL BioPharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 23rd. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $3.00.

Several hedge funds and other institutional investors have recently bought and sold shares of PDLI. Meeder Asset Management Inc. raised its holdings in shares of PDL BioPharma by 76.9% in the third quarter. Meeder Asset Management Inc. now owns 57,350 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 24,925 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of PDL BioPharma by 26.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,161,800 shares of the biotechnology company’s stock valued at $3,056,000 after buying an additional 240,100 shares in the last quarter. Systematic Financial Management LP grew its stake in shares of PDL BioPharma by 21.7% in the third quarter. Systematic Financial Management LP now owns 603,460 shares of the biotechnology company’s stock valued at $1,587,000 after buying an additional 107,610 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of PDL BioPharma by 83.9% in the third quarter. JPMorgan Chase & Co. now owns 254,196 shares of the biotechnology company’s stock valued at $669,000 after buying an additional 115,956 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of PDL BioPharma by 2.8% in the third quarter. Bank of New York Mellon Corp now owns 1,318,645 shares of the biotechnology company’s stock valued at $3,468,000 after buying an additional 35,617 shares in the last quarter. Institutional investors own 81.72% of the company’s stock.

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About PDL BioPharma

PDL BioPharma, Inc acquires and manages companies, products, royalty agreements, and debt facilities in the biotechnology, pharmaceutical, and medical device industries in the United States, Europe, and internationally. The company operates in three segments: Income Generating Assets, Pharmaceutical, and Medical Devices.

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Earnings History for PDL BioPharma (NASDAQ:PDLI)

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