PDL BioPharma, Inc. (PDLI) Given Average Recommendation of “Buy” by Analysts
PDL BioPharma, Inc. (NASDAQ:PDLI) has been given an average recommendation of “Buy” by the six brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $3.33.
A number of research analysts have recently commented on PDLI shares. ValuEngine lowered shares of PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. BidaskClub lowered shares of PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Cowen and Company reissued a “hold” rating and issued a $3.00 price target on shares of PDL BioPharma in a research report on Friday, October 27th. Zacks Investment Research raised shares of PDL BioPharma from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research report on Wednesday, August 16th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $4.00 price target on shares of PDL BioPharma in a research report on Thursday, August 10th.
PDL BioPharma (NASDAQ:PDLI) traded up $0.01 during mid-day trading on Monday, reaching $3.04. 1,403,800 shares of the company’s stock were exchanged, compared to its average volume of 1,848,308. The company has a market capitalization of $468.40, a PE ratio of 6.33 and a beta of 0.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.94 and a quick ratio of 1.90. PDL BioPharma has a one year low of $1.93 and a one year high of $3.77.
PDL BioPharma (NASDAQ:PDLI) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. The business had revenue of $62.75 million during the quarter, compared to analyst estimates of $61.86 million. PDL BioPharma had a net margin of 24.51% and a return on equity of 9.33%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share. equities analysts forecast that PDL BioPharma will post 0.69 earnings per share for the current fiscal year.
PDL BioPharma announced that its Board of Directors has authorized a stock buyback program on Monday, September 25th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the biotechnology company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
A number of institutional investors have recently modified their holdings of the business. Kestrel Investment Management Corp bought a new stake in shares of PDL BioPharma during the second quarter valued at approximately $4,293,000. Seizert Capital Partners LLC grew its stake in shares of PDL BioPharma by 5.9% during the second quarter. Seizert Capital Partners LLC now owns 1,262,960 shares of the biotechnology company’s stock valued at $3,120,000 after purchasing an additional 70,874 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of PDL BioPharma by 6.0% during the second quarter. Goldman Sachs Group Inc. now owns 1,041,308 shares of the biotechnology company’s stock valued at $2,572,000 after purchasing an additional 59,311 shares during the last quarter. Alps Advisors Inc. grew its stake in shares of PDL BioPharma by 9.9% during the second quarter. Alps Advisors Inc. now owns 281,646 shares of the biotechnology company’s stock valued at $696,000 after purchasing an additional 25,472 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of PDL BioPharma by 25.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,877,105 shares of the biotechnology company’s stock valued at $7,107,000 after purchasing an additional 584,481 shares during the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.
WARNING: This article was originally published by Daily Political and is owned by of Daily Political. If you are reading this article on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.dailypolitical.com/2017/11/13/pdl-biopharma-inc-pdli-given-average-recommendation-of-buy-by-analysts.html.
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.
Receive News & Ratings for PDL BioPharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDL BioPharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.