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Research analysts at Cowen and Company boosted their price objective on shares of PDL BioPharma (NASDAQ:PDLI) from $7.00 to $8.00 in a report released on Wednesday. Cowen and Company’s price objective points to a potential downside of 16.23% from the stock’s previous close.

Shares of PDL BioPharma (NASDAQ:PDLI) opened at 9.55 on Wednesday. PDL BioPharma has a 52 week low of $7.38 and a 52 week high of $10.21. The stock’s 50-day moving average is $9.45 and its 200-day moving average is $8.90. The company has a market cap of $1.534 billion and a price-to-earnings ratio of 5.37.

PDL BioPharma (NASDAQ:PDLI) last posted its quarterly earnings results on Monday, August 18th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.06. The company had revenue of $162.80 million for the quarter, compared to the consensus estimate of $134.07 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts predict that PDL BioPharma will post $2.06 earnings per share for the current fiscal year.

PDL BioPharma, Inc (NASDAQ:PDLI) is a is a biotech company.

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