Zacks: Brokerages Expect PDL BioPharma Inc (NASDAQ:PDLI) Will Announce Earnings of $0.10 Per Share

Analysts predict that PDL BioPharma Inc (NASDAQ:PDLI) will post $0.10 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have made estimates for PDL BioPharma’s earnings. PDL BioPharma also reported earnings per share of $0.10 during the same quarter last year. The company is expected to issue its next quarterly earnings results on Wednesday, August 5th.

According to Zacks, analysts expect that PDL BioPharma will report full-year earnings of ($0.14) per share for the current year, with EPS estimates ranging from ($0.37) to $0.10. For the next financial year, analysts forecast that the business will post earnings of ($0.06) per share, with EPS estimates ranging from ($0.41) to $0.30. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for PDL BioPharma.

PDL BioPharma (NASDAQ:PDLI) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.31). The company had revenue of $6.00 million during the quarter.

A number of brokerages recently commented on PDLI. BidaskClub downgraded PDL BioPharma from a “hold” rating to a “sell” rating in a report on Wednesday, June 24th. ValuEngine downgraded PDL BioPharma from a “hold” rating to a “sell” rating in a report on Tuesday, May 19th. Finally, TheStreet raised PDL BioPharma from a “d” rating to a “c-” rating in a report on Thursday, May 21st. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. PDL BioPharma has a consensus rating of “Hold” and an average price target of $3.50.

PDLI traded up $0.08 on Wednesday, reaching $2.88. The company’s stock had a trading volume of 12,694 shares, compared to its average volume of 1,196,468. The stock has a market cap of $326.33 million, a price-to-earnings ratio of -3.01 and a beta of 0.84. PDL BioPharma has a 1 year low of $2.06 and a 1 year high of $3.86. The company has a debt-to-equity ratio of 0.02, a current ratio of 13.21 and a quick ratio of 12.95. The business’s 50 day moving average is $3.26 and its 200 day moving average is $3.22.

A number of large investors have recently added to or reduced their stakes in PDLI. Great West Life Assurance Co. Can bought a new position in PDL BioPharma during the 4th quarter worth approximately $28,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of PDL BioPharma in the 1st quarter worth approximately $37,000. Marshall Wace North America L.P. bought a new stake in shares of PDL BioPharma in the 4th quarter worth approximately $40,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of PDL BioPharma by 71.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,690 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 6,528 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of PDL BioPharma in the 1st quarter worth approximately $53,000. 78.33% of the stock is currently owned by institutional investors.

About PDL BioPharma

PDL BioPharma, Inc acquires, manages, and commercializes commercial stage pharmaceutical assets and late clinical stage pharmaceutical products in the United States, Europe, and internationally. The company operates in three segments: Pharmaceutical, Medical Devices, and Income Generating Assets. The Pharmaceutical segment manufactures, markets, and sells prescription medicine products for the treatment of hypertension to wholesalers under the Tekturna and Tekturna HCT names in the United States, as well as under the Rasilez and Rasilez HCT names internationally.

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