Analysts Expect PDL BioPharma Inc. (NASDAQ:PDLI) to Announce $0.14 EPS
PDL BioPharma Inc. (NASDAQ:PDLI) has been given an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation.
Brokerages have set a 1 year consensus target price of $3.75 for the company and are forecasting that the company will post $0.14 earnings per share for the current quarter, according to Zacks. Zacks has also given PDL BioPharma an industry rank of 92 out of 265 based on the ratings given to its competitors.
Several brokerages have weighed in on PDLI. Cowen and Company reaffirmed a “hold” rating and set a $3.50 target price on shares of PDL BioPharma in a research note on Sunday, August 7th. Zacks Investment Research raised PDL BioPharma from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th.
Shares of PDL BioPharma (NASDAQ:PDLI) opened at 3.17 on Wednesday. The stock has a 50 day moving average price of $3.07 and a 200 day moving average price of $3.24. The stock has a market capitalization of $524.76 million, a P/E ratio of 2.25 and a beta of 0.78. PDL BioPharma has a 12 month low of $2.58 and a 12 month high of $5.54.
PDL BioPharma (NASDAQ:PDLI) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $21 million for the quarter, compared to the consensus estimate of $33.46 million. PDL BioPharma had a return on equity of 38.94% and a net margin of 53.90%. The business’s revenue was down 84.8% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. On average, analysts anticipate that PDL BioPharma will post $0.51 EPS for the current fiscal year.
In other news, VP Peter S. Garcia purchased 10,000 shares of the stock in a transaction dated Tuesday, August 9th. The shares were bought at an average cost of $3.00 per share, for a total transaction of $30,000.00. Following the transaction, the vice president now owns 232,092 shares in the company, valued at $696,276. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.
Several institutional investors have recently modified their holdings of PDLI. Public Employees Retirement System of Ohio boosted its position in shares of PDL BioPharma by 23.2% in the second quarter. Public Employees Retirement System of Ohio now owns 36,100 shares of the company’s stock valued at $113,000 after buying an additional 6,809 shares during the period. Legal & General Group Plc boosted its position in shares of PDL BioPharma by 31.7% in the second quarter. Legal & General Group Plc now owns 201,737 shares of the company’s stock worth $632,000 after buying an additional 48,570 shares during the last quarter. Numeric Investors LLC boosted its position in shares of PDL BioPharma by 1.1% in the second quarter. Numeric Investors LLC now owns 1,042,640 shares of the company’s stock worth $3,274,000 after buying an additional 11,300 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of PDL BioPharma by 43.5% in the second quarter. Cubist Systematic Strategies LLC now owns 32,310 shares of the company’s stock worth $101,000 after buying an additional 9,794 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of PDL BioPharma by 9.8% in the second quarter. AQR Capital Management LLC now owns 2,248,913 shares of the company’s stock worth $7,062,000 after buying an additional 200,044 shares during the last quarter. Institutional investors own 75.51% of the company’s stock.
About PDL BioPharma
PDL BioPharma, Inc, formerly Protein Design Labs, Inc, manages a portfolio of patents and royalty assets, consisting of its Queen et al. patents, license agreements with various biotechnology and pharmaceutical companies, and royalty and other assets acquired. The Company provides non-dilutive growth capital and financing solutions to late-stage public and private healthcare companies and offers immediate financial monetization of royalty streams to companies, academic institutions and inventors.
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