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

Shares of PDLI opened at $3.48 on Friday. The stock has a market cap of $513.84 million, a price-to-earnings 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 fifty-two week low of $2.25 and a fifty-two week high of $3.82.

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

A number of institutional investors and hedge funds have recently made changes to their positions in PDLI. Fruth Investment Management acquired a new stake in PDL BioPharma during the 4th quarter worth about $29,000. Strategic Wealth Partners Ltd. acquired a new stake in PDL BioPharma during the 4th quarter worth about $44,000. Two Sigma Securities LLC acquired a new stake in shares of PDL BioPharma during the 4th quarter valued at about $61,000. Legal & General Group Plc grew its position in shares of PDL BioPharma by 24.2% during the 4th quarter. Legal & General Group Plc now owns 26,678 shares of the biotechnology company’s stock valued at $77,000 after acquiring an additional 5,197 shares during the period. Finally, CAPROCK Group Inc. acquired a new stake in shares of PDL BioPharma during the 4th quarter valued at about $95,000. 81.72% of the stock is currently owned by institutional investors.

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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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