Wall Street analysts expect PDL BioPharma, Inc. (NASDAQ:PDLI) to post earnings per share (EPS) of $0.11 for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for PDL BioPharma’s earnings, with estimates ranging from $0.03 to $0.18. PDL BioPharma reported earnings of $0.01 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 1,000%. The company is scheduled to issue its next quarterly earnings report on Wednesday, March 7th.

On average, analysts expect that PDL BioPharma will report full year earnings of $0.67 per share for the current year, with EPS estimates ranging from $0.60 to $0.74. For the next financial year, analysts forecast that the company will report earnings of $0.51 per share, with EPS estimates ranging from $0.10 to $0.91. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover PDL BioPharma.

PDL BioPharma (NASDAQ:PDLI) last announced its earnings results on Thursday, November 2nd. The biotechnology company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. PDL BioPharma had a return on equity of 9.20% and a net margin of 24.51%. The firm had revenue of $62.75 million for the quarter, compared to the consensus estimate of $61.86 million. During the same quarter in the previous year, the business earned $0.08 EPS. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis.

A number of research firms have recently commented on PDLI. ValuEngine raised PDL BioPharma from a “hold” rating to a “buy” rating in a research note on Saturday, November 25th. Cowen reissued a “hold” rating and issued a $3.00 price objective on shares of PDL BioPharma in a research note on Friday, October 27th. BidaskClub raised PDL BioPharma from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Zacks Investment Research raised PDL BioPharma from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Wednesday, August 16th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $3.33.

Shares of PDL BioPharma (NASDAQ PDLI) opened at $2.85 on Friday. PDL BioPharma has a 12 month low of $1.93 and a 12 month high of $3.55. The company has a quick ratio of 3.10, a current ratio of 3.16 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $430.61, a price-to-earnings ratio of 5.81 and a beta of 0.45.

PDL BioPharma declared that its Board of Directors has initiated a share buyback program on Monday, September 25th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the biotechnology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new position in shares of PDL BioPharma in the 3rd quarter worth $131,000. Cubist Systematic Strategies LLC grew its holdings in shares of PDL BioPharma by 64.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 49,062 shares of the biotechnology company’s stock worth $166,000 after acquiring an additional 19,144 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of PDL BioPharma by 141.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 53,584 shares of the biotechnology company’s stock worth $182,000 after acquiring an additional 31,418 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of PDL BioPharma by 15.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 55,423 shares of the biotechnology company’s stock worth $126,000 after acquiring an additional 7,336 shares during the last quarter. Finally, Airain ltd grew its holdings in shares of PDL BioPharma by 21.0% in the 2nd quarter. Airain ltd now owns 56,911 shares of the biotechnology company’s stock worth $141,000 after acquiring an additional 9,893 shares during the last quarter. Institutional investors and hedge funds own 88.44% of the company’s stock.

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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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