PDL BioPharma Inc (PDLI) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.52 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.46. The company posted revenue of $103.10 million in the period, compared to analysts expectations of $142.05 million. The company’s revenue was down -31.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.
Many Wall Street Analysts have commented on PDL BioPharma Inc. Shares were Reiterated by RBC Capital Mkts on Feb 23, 2016 to “Sector Perform” and Lowered the Price Target to $ 4 from a previous price target of $5 .
PDL BioPharma Inc closed down -0.12 points or -3.18% at $3.65 with 16,98,054 shares getting traded on Monday. Post opening the session at $3.76, the shares hit an intraday low of $3.53 and an intraday high of $3.78 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Dec 16, 2015, Peter S Garcia (CFO) purchased 15,000 shares at $3.53 per share price. According to the SEC, on Dec 7, 2015, Steffen Pietzke (Controller and CAO) purchased 20,590 shares at $3.64 per share price.
PDL BioPharma Inc. manages a portfolio of patents and royalty assets consisting of its Queen et al. patents license agreements with various biotechnology and pharmaceutical companies and royalty and other assets acquired. The Company provides non-dilutive growth capital and financing solutions to late-stage public and private healthcare companies and offers immediate financial monetization of royalty streams to companies academic institutions and inventors. It is focused on intellectual property asset management acquiring new income generating assets and maximizing value for its stockholders. The Company receives royalties on a number of marketed products that use its technology and it has liscensed a number of humanized antibody products in late-stage clinical trials. As of December 31 2014 the Company received royalties on sales of the ten humanized antibody products which include Avastin Herceptin Xolair Lucentis Perjeta Kadcyla Tysabri Actemra Gazyva and Entyvio.