Zacks: Analysts Expect PDL BioPharma Inc (NASDAQ:PDLI) to Post $0.04 Earnings Per Share

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Equities analysts expect PDL BioPharma Inc (NASDAQ:PDLI) to report earnings per share of $0.04 for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for PDL BioPharma’s earnings. PDL BioPharma posted earnings per share of $0.10 during the same quarter last year, which would indicate a negative year over year growth rate of 60%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that PDL BioPharma will report full-year earnings of $0.18 per share for the current year, with EPS estimates ranging from $0.15 to $0.21. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.17 per share, with EPS estimates ranging from $0.10 to $0.24. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover PDL BioPharma.

PDL BioPharma (NASDAQ:PDLI) last issued its earnings results on Thursday, May 9th. The biotechnology company reported $0.08 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.08. The firm had revenue of $38.91 million for the quarter. PDL BioPharma had a positive return on equity of 6.86% and a negative net margin of 32.13%. During the same period in the prior year, the business posted $0.01 EPS.

Several equities research analysts recently weighed in on PDLI shares. BidaskClub raised Winmark from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. Cowen reissued a “hold” rating on shares of PDL BioPharma in a report on Thursday, May 9th. Finally, Zacks Investment Research raised Hudson Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $3.13.

In other news, major shareholder Pdl Biopharma, Inc. acquired 6,666,667 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were bought at an average price of $4.50 per share, with a total value of $30,000,001.50. Following the acquisition, the insider now directly owns 13,333,334 shares in the company, valued at approximately $60,000,003. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.20% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. TrinityPoint Wealth LLC bought a new position in shares of PDL BioPharma in the first quarter worth $53,000. Two Sigma Securities LLC purchased a new position in PDL BioPharma in the fourth quarter worth $61,000. Legal & General Group Plc grew its position in PDL BioPharma by 24.2% in the fourth quarter. Legal & General Group Plc now owns 26,678 shares of the biotechnology company’s stock worth $77,000 after acquiring an additional 5,197 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in PDL BioPharma by 307.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 47,074 shares of the biotechnology company’s stock worth $137,000 after acquiring an additional 35,507 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in PDL BioPharma in the first quarter worth $160,000. 96.55% of the stock is owned by institutional investors and hedge funds.

Shares of PDLI stock traded down $0.06 during trading hours on Wednesday, reaching $3.08. The company’s stock had a trading volume of 18,077 shares, compared to its average volume of 1,008,929. The company’s 50 day moving average is $3.04. The firm has a market capitalization of $376.30 million, a P/E ratio of 8.36 and a beta of 0.67. PDL BioPharma has a fifty-two week low of $2.25 and a fifty-two week high of $3.89. The company has a quick ratio of 10.67, a current ratio of 11.02 and a debt-to-equity ratio of 0.18.

PDL BioPharma Company Profile

PDL BioPharma, Inc acquires, manages, and commercializes commercial stage pharmaceutical assets and late clinical stage pharmaceutical products in the United States, Europe, and internationally. The company operates in three segments: Pharmaceutical, Medical Devices, and Income Generating Assets. The Pharmaceutical segment manufactures, markets, and sells prescription medicine products for the treatment of hypertension to wholesalers under the Tekturna and Tekturna HCT names in the United States, as well as under the Rasilez and Rasilez HCT names internationally.

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