Wall Street brokerages expect PDL BioPharma Inc (NASDAQ:PDLI) to report earnings of $0.03 per share for the current quarter, Zacks reports. Zero analysts have issued estimates for PDL BioPharma’s earnings. PDL BioPharma reported earnings of $0.01 per share in the same quarter last year, which indicates a positive year over year growth rate of 200%. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, March 8th.

According to Zacks, analysts expect that PDL BioPharma will report full year earnings of $0.60 per share for the current fiscal year. For the next year, analysts forecast that the company will post earnings of $0.10 per share. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover PDL BioPharma.

Several equities research analysts have commented on the company. BidaskClub cut PDL BioPharma from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 13th. Cowen restated a “hold” rating and issued a $3.00 target price on shares of PDL BioPharma in a research note on Friday, October 27th. Zacks Investment Research cut PDL BioPharma from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, ValuEngine upgraded PDL BioPharma from a “hold” rating to a “buy” rating in a research note on Saturday, November 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. PDL BioPharma presently has an average rating of “Hold” and a consensus price target of $3.33.

Several institutional investors have recently made changes to their positions in PDLI. Alliancebernstein L.P. raised its stake in shares of PDL BioPharma by 7.0% during the 2nd quarter. Alliancebernstein L.P. now owns 275,422 shares of the biotechnology company’s stock worth $680,000 after purchasing an additional 18,100 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of PDL BioPharma by 4.7% during the 2nd quarter. Nationwide Fund Advisors now owns 109,961 shares of the biotechnology company’s stock worth $272,000 after purchasing an additional 4,900 shares in the last quarter. Northern Trust Corp raised its stake in shares of PDL BioPharma by 48.7% during the 2nd quarter. Northern Trust Corp now owns 2,846,346 shares of the biotechnology company’s stock worth $7,030,000 after purchasing an additional 931,730 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of PDL BioPharma by 9.5% during the 2nd quarter. California Public Employees Retirement System now owns 967,100 shares of the biotechnology company’s stock worth $2,389,000 after purchasing an additional 83,800 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of PDL BioPharma by 9.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,782,800 shares of the biotechnology company’s stock worth $4,404,000 after purchasing an additional 154,642 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

Shares of PDL BioPharma (PDLI) opened at $2.47 on Thursday. The company has a market capitalization of $381.22, a P/E ratio of 5.15 and a beta of 0.48. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.16 and a quick ratio of 3.10. PDL BioPharma has a 12 month low of $1.96 and a 12 month high of $3.55.

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About PDL BioPharma

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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