PDL BioPharma Company Profile (NASDAQ:PDLI)

PDL BioPharma trades on the NASDAQ under the ticker symbol "PDLI."

PDL BioPharma announced that its Board of Directors has initiated a stock buyback program on Monday, September 25th 2017, which permits the company to repurchase $25,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

PDL BioPharma, Inc. (NASDAQ:PDLI) posted its quarterly earnings data on Thursday, August, 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.17. The business had revenue of $143.80 million for the quarter, compared to the consensus estimate of $56.30 million. PDL BioPharma had a net margin of 23.03% and a return on equity of 9.07%. The company's revenue for the quarter was up 584.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. View PDL BioPharma's Earnings History.

PDL BioPharma is scheduled to release their next quarterly earnings announcement on Wednesday, November, 1st 2017. View Earnings Estimates for PDL BioPharma.

2 analysts have issued 1 year price objectives for PDL BioPharma's shares. Their forecasts range from $4.00 to $4.00. On average, they expect PDL BioPharma's share price to reach $4.00 in the next twelve months. View Analyst Ratings for PDL BioPharma.

Here are some recent quotes from research analysts about PDL BioPharma stock:

• 1. According to Zacks Investment Research, "PDL BioPharma’s earnings in the second quarter of 2017 surpassed estimates. The company is focused on acquiring and managing income-generating assets. PDL BioPharma has royalty agreements with several companies, whereby it has royalty rights on product sales. We are positive on the company’s recent strategic shift, wherein, it is making equity investments in product-focused companies. The company’s royalty agreement with oncology-focused company, ARIAD, is also encouraging. PDL BioPharma’s shares have outperformed the industry in a year. However, the company is heavily dependent on its partners for royalty revenues, which is hardly a risk-free strategy. We are also concerned about PDL BioPharma’s revenue stream in the futureas its growth prospects rely on the timing and ability to acquire new income-generating assets in order to provide recurring revenues." (8/16/2017)
• 2. Cowen and Company analysts commented, "PDL reported an in-line Q1 with both total revenue ($45MM vs $43MM) and EPS." (5/3/2017)

PDL BioPharma saw a increase in short interest in August. As of August 31st, there was short interest totalling 18,146,418 shares, an increase of 13.8% from the August 15th total of 15,943,830 shares. Based on an average trading volume of 1,891,101 shares, the days-to-cover ratio is currently 9.6 days. Currently, 12.1% of the company's stock are short sold.

Some companies that are related to PDL BioPharma include Albany Molecular Research (AMRI), Intellia Therapeutics (NTLA), BeyondSpring (BYSI), Heron Therapeutics (HRTX), Enanta Pharmaceuticals (ENTA), Spectrum Pharmaceuticals (SPPI), Crispr Theraptc (CRSP), Editas Medicine (EDIT), TG Therapeutics (TGTX), WAVE Life Sciences (WVE), Abeona Therapeutics (ABEO), ImmunoGen (IMGN), AC Immune SA (ACIU), ANI Pharmaceuticals (ANIP), Inovio Pharmaceuticals (INO), Kala Pharmaceuticals (KALA), Celyad SA (CYAD) and Voyager Therapeutics (VYGR).

PDL BioPharma's management team includes the folowing people:

• Dominique Monnet, President
• John Peter McLaughlin, Chief Executive Officer, Director
• Peter S. Garcia, Chief Financial Officer, Vice President
• Steffen Pietzke CPA, Chief Accounting Officer, Vice President - Finance
• Christopher Lewis Stone J.D., Vice President, General Counsel, Secretary
• Danny Hart, Vice President - Business Development
• Harold E. Selick Ph.D., Lead Independent Director
• Paul R. Edick, Independent Director
• David W. Gryska, Independent Director
• Jody S. Lindell, Independent Director

PDL BioPharma's stock is owned by many different of retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (7.99%), Renaissance Technologies LLC (6.65%), Dimensional Fund Advisors LP (4.61%), State Street Corp (3.27%), Acadian Asset Management LLC (3.00%) and Schwab Charles Investment Management Inc. (1.79%). Company insiders that own PDL BioPharma stock include Peter S Garcia and Steffen Pietzke. View Institutional Ownership Trends for PDL BioPharma.

PDL BioPharma's stock was sold by a variety of institutional investors in the last quarter, including Renaissance Technologies LLC, Vanguard Group Inc., GSA Capital Partners LLP, Canada Pension Plan Investment Board, JPMorgan Chase & Co., Numeric Investors LLC, FMR LLC and Aperio Group LLC. View Insider Buying and Selling for PDL BioPharma.

PDL BioPharma's stock was purchased by a variety of institutional investors in the last quarter, including Dimensional Fund Advisors LP, Kestrel Investment Management Corp, Brandes Investment Partners LP, Northern Trust Corp, State Street Corp, Schwab Charles Investment Management Inc., Sterling Capital Management LLC and Parametric Portfolio Associates LLC. Company insiders that have bought PDL BioPharma stock in the last two years include Peter S Garcia and Steffen Pietzke. View Insider Buying and Selling for PDL BioPharma.

Shares of PDL BioPharma can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of PDL BioPharma stock can currently be purchased for approximately $3.17.