PDL BioPharma (PDLI) Announces Earnings Results

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PDL BioPharma (NASDAQ:PDLI) released its earnings results on Thursday. The biotechnology company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.02, Morningstar.com reports. PDL BioPharma had a negative net margin of 28.41% and a positive return on equity of 7.72%. The business had revenue of $45.12 million for the quarter. During the same period last year, the business earned $0.15 earnings per share.

PDLI stock opened at $3.48 on Friday. The company has a market cap of $513.84 million, a PE ratio of 5.52 and a beta of 0.59. 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 one year low of $2.25 and a one year high of $3.82.

Several hedge funds have recently added to or reduced their stakes in PDLI. Meeder Asset Management Inc. raised its position in shares of PDL BioPharma by 76.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 57,350 shares of the biotechnology company’s stock valued at $151,000 after buying an additional 24,925 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in shares of PDL BioPharma by 26.0% during the 3rd 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 during the period. Systematic Financial Management LP raised its position in shares of PDL BioPharma by 21.7% during the 3rd 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 during the period. JPMorgan Chase & Co. raised its position in shares of PDL BioPharma by 83.9% during the 3rd 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 during the period. Finally, Bank of New York Mellon Corp raised its position in shares of PDL BioPharma by 2.8% during the 3rd 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 during the period. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on PDLI shares. ValuEngine raised shares of PDL BioPharma from a “hold” rating to a “buy” rating in a research note on Tuesday. BidaskClub raised shares of PDL BioPharma from a “hold” rating to a “buy” rating in a research note on Friday, January 4th. TheStreet raised shares of PDL BioPharma from a “d+” rating to a “c-” rating in a research note on Wednesday, February 6th. Finally, Zacks Investment Research raised shares of PDL BioPharma from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $3.00.

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PDL BioPharma Company Profile

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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