PDL BioPharma (PDLI) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS
PDL BioPharma (NASDAQ:PDLI) announced its earnings results on Thursday. The biotechnology company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02, Morningstar.com reports. PDL BioPharma had a positive return on equity of 7.72% and a negative net margin of 28.41%. During the same quarter in the prior year, the firm earned $0.15 earnings per share.
Shares of PDL BioPharma stock opened at $3.48 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 10.88 and a quick ratio of 10.61. The stock has a market cap of $513.84 million, a PE ratio of 5.52 and a beta of 0.59. PDL BioPharma has a 1-year low of $2.25 and a 1-year high of $3.82.
Several brokerages have recently weighed in on PDLI. Zacks Investment Research upgraded PDL BioPharma from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. TheStreet upgraded PDL BioPharma from a “d+” rating to a “c-” rating in a research note on Wednesday, February 6th. ValuEngine upgraded PDL BioPharma from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, BidaskClub upgraded PDL BioPharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 23rd. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. PDL BioPharma currently has an average rating of “Buy” and an average target price of $3.00.
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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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