PDL BioPharma, Inc. (PDLI) Receives Average Rating of “Buy” from Analysts
PDL BioPharma, Inc. (NASDAQ:PDLI) has been given an average recommendation of “Buy” by the six research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $3.50.
PDLI has been the subject of a number of recent research reports. Zacks Investment Research raised PDL BioPharma from a “sell” rating to a “hold” rating in a report on Monday, May 15th. BidaskClub cut PDL BioPharma from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $4.00 target price on shares of PDL BioPharma in a report on Thursday, August 10th. ValuEngine raised PDL BioPharma from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Finally, Cowen and Company reaffirmed a “hold” rating on shares of PDL BioPharma in a report on Wednesday, May 3rd.
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Several large investors have recently modified their holdings of PDLI. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PDL BioPharma by 43.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,948 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 14,000 shares during the last quarter. Airain ltd bought a new stake in shares of PDL BioPharma during the first quarter valued at $107,000. KBC Group NV bought a new stake in shares of PDL BioPharma during the first quarter valued at $107,000. Credit Agricole S A boosted its stake in shares of PDL BioPharma by 34.9% in the first quarter. Credit Agricole S A now owns 50,000 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 12,942 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of PDL BioPharma by 15.3% in the first quarter. Public Employees Retirement System of Ohio now owns 55,423 shares of the biotechnology company’s stock valued at $126,000 after buying an additional 7,336 shares during the last quarter. 83.35% of the stock is owned by institutional investors.
PDL BioPharma (NASDAQ PDLI) traded up 4.08% during midday trading on Wednesday, reaching $3.06. 585,330 shares of the company traded hands. The company has a 50-day moving average price of $2.52 and a 200-day moving average price of $2.33. PDL BioPharma has a 12-month low of $1.93 and a 12-month high of $3.77. The company has a market cap of $471.48 million, a price-to-earnings ratio of 7.03 and a beta of 0.58.
PDL BioPharma (NASDAQ:PDLI) last issued its earnings results on Thursday, August 3rd. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.17. PDL BioPharma had a return on equity of 9.07% and a net margin of 23.03%. The business had revenue of $143.80 million during the quarter, compared to analysts’ expectations of $56.30 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The business’s revenue for the quarter was up 584.8% compared to the same quarter last year. On average, analysts predict that PDL BioPharma will post $0.61 earnings per share for the current fiscal year.
PDL BioPharma Company Profile
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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