PDL BioPharma, Inc. (PDLI) Set to Announce Earnings on Wednesday
PDL BioPharma, Inc. (NASDAQ:PDLI) is scheduled to be releasing its earnings data after the market closes on Wednesday, November 1st. Analysts expect PDL BioPharma to post earnings of $0.13 per share for the quarter.
PDL BioPharma (NASDAQ:PDLI) last released its earnings results on Thursday, August 3rd. The biotechnology company reported $0.26 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 company had revenue of $143.80 million for the quarter, compared to the consensus estimate of $56.30 million. During the same quarter last year, the business posted $0.09 EPS. PDL BioPharma’s quarterly revenue was up 584.8% compared to the same quarter last year. On average, analysts expect PDL BioPharma to post $0.69 EPS for the current fiscal year and $0.63 EPS for the next fiscal year.
PDL BioPharma, Inc. (NASDAQ:PDLI) opened at 3.30 on Wednesday. PDL BioPharma, Inc. has a 12-month low of $1.93 and a 12-month high of $3.77. The company has a market cap of $508.46 million, a P/E ratio of 7.59 and a beta of 0.49. The firm’s 50-day moving average price is $3.34 and its 200-day moving average price is $2.67.
PDL BioPharma declared that its Board of Directors has initiated a stock repurchase plan on Monday, September 25th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the biotechnology company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
Several equities analysts recently issued reports on the company. BidaskClub lowered PDL BioPharma from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. ValuEngine upgraded PDL BioPharma from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Piper Jaffray Companies restated a “buy” rating and set a $4.00 price target on shares of PDL BioPharma in a research note on Thursday, August 10th. Finally, Zacks Investment Research upgraded PDL BioPharma from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research note on Wednesday, August 16th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. PDL BioPharma presently has an average rating of “Buy” and an average target price of $3.50.
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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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