PDL BioPharma (PDLI) Reports 4Q Earnings: It’s a Miss

PDL BioPharma, Inc. (PDLI) reported fourth quarter non-GAAP EPS of $0.32 after the close Monday, compared to the consensus estimate of $0.57. Revenues increased 4.5% from last year to $117.1 million. Analysts expected revenues of $158.15 million. The stock is now down $0.46 to $6.88 on 3.5 million shares.

For full year 2014, total revenues increased 27% to $581.2 million from $456.3 million in 2013. Operating expenses came in at $34.9 million, compared with $29.8 million in 2013.

On valuation measures, PDL BioPharma Inc. shares, which currently have an average 3-month trading volume of 2.6 million shares, trade at a trailing-12 P/E of 3.72, a forward P/E of 3.45 and a P/E to growth ratio of 0.25. The median Wall Street price target on the name is $8.00 with a high target of $9.00. Currently ticker has  no ‘Buy’ endorsements, compared to 2 ’Holds’ and no ‘Sell’.

Profitability-wise, PDLI has a t-12 profit and operating margin of 70.48% and 93.41%, respectively. The $1.18 billion market cap company reported $293.7 million in cash vs. $492.90 million in debt in its most recent quarter.

PDLI currently prints a one year loss of about 11%, and a year-to-date loss of around 6%.

The chart below shows where the equity has traded over the last 12 months.

PDL BioPharma, Inc. manages a portfolio of patents and royalty assets. The company was founded in 1986 and is headquartered in Incline Village, Nevada.

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