PDL BioPharma, Inc. (NASDAQ:PDLI) issued its earnings results on Thursday. The biotechnology company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01, Bloomberg Earnings reports. PDL BioPharma had a return on equity of 9.33% and a net margin of 24.51%. The business had revenue of $62.75 million for the quarter, compared to analyst estimates of $61.86 million. During the same quarter last year, the company earned $0.08 EPS. The business’s quarterly revenue was up 17.0% on a year-over-year basis.

Shares of PDL BioPharma (NASDAQ PDLI) traded up $0.09 during midday trading on Friday, hitting $3.08. The stock had a trading volume of 2,136,682 shares, compared to its average volume of 2,010,972. The firm has a market capitalization of $456.08 million, a price-to-earnings ratio of 6.17 and a beta of 0.45.

Several equities research analysts have recently weighed in on the company. ValuEngine raised PDL BioPharma from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Cowen and Company reissued a “hold” rating and set a $3.00 target price on shares of PDL BioPharma in a research report on Friday, October 27th. Zacks Investment Research raised PDL BioPharma from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research report on Wednesday, August 16th. Piper Jaffray Companies reissued a “buy” rating and set a $4.00 target price on shares of PDL BioPharma in a research report on Thursday, August 10th. Finally, BidaskClub raised PDL BioPharma from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $3.33.

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PDL BioPharma announced that its Board of Directors has authorized a stock repurchase program on Monday, September 25th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the biotechnology company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

About PDL BioPharma

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.

Earnings History for PDL BioPharma (NASDAQ:PDLI)

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