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

Brokerages expect PDL BioPharma Inc (NASDAQ:PDLI) to announce earnings of $0.10 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for PDL BioPharma’s earnings. PDL BioPharma also posted earnings per share of $0.10 in the same quarter last year. The company is scheduled 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 fiscal year, analysts anticipate 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 EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for PDL BioPharma.

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

PDLI has been the topic of several research reports. ValuEngine downgraded PDL BioPharma from a “hold” rating to a “sell” rating in a research report on Tuesday, May 19th. BidaskClub downgraded PDL BioPharma from a “hold” rating to a “sell” rating in a research report on Wednesday, June 24th. Finally, TheStreet raised shares of PDL BioPharma from a “d” rating to a “c-” rating in a report on Thursday, May 21st. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $3.50.

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

Shares of NASDAQ PDLI traded up $0.08 during mid-day trading on Wednesday, hitting $2.88. The stock had a trading volume of 12,694 shares, compared to its average volume of 1,196,468. The company has a debt-to-equity ratio of 0.02, a quick ratio of 12.95 and a current ratio of 13.21. The company has a 50 day moving average of $3.26 and a two-hundred day moving average of $3.22. PDL BioPharma has a twelve month low of $2.06 and a twelve month high of $3.86. The firm has a market cap of $326.33 million, a PE ratio of -3.01 and a beta of 0.84.

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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