PDL BioPharma Inc. (PDLI) shares are trading at higher $2.50, while the current analyst price target stands at $2.50.
To add more color to this target, the company’s high over the last year is $3.50 and the low is $1.90. Over the last 52 weeks, PDLI is up 6.33% while the S&P 500 is up 15.91%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, PDLI reported a profit of $2.57 million. PDL BioPharma Inc. also saw revenues increase to $5.21 million. In addition, PDLI has free cash flow of -$35.69 million as of 06-2020. The company’s EBITDA came in at -$12.68 million which compares well with its peers.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. PDLI has a short ratio of 10.60 and outstanding shares of 115.91M.
PDLI has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.3 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.73. PDL BioPharma Inc. PDLI also noted assets of $520.66 million at the end of the last quarter. Investors should also keep an eye on sector updates as PDLI has historically followed its peers on positive news.
All told, PDL BioPharma Inc. PDLI has strung together solid data and demonstrated underlying fundamentals. At its current valuation, PDLI represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
PDL BioPharma Inc. PDLI is now commanding a market cap of 287.85M and a float of 110.26M. PDLI is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of PDLI stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in PDLI, either long or short, and we have not been compensated for this article.