Read/Post Comments (0) | Recommended this article (0)
Please login to Zacks.com or register to post a comment.
- Latest News
- Most Popular
- Hitting Home Runs & Grand Slams, Not Loud Outs
- RTI: Do Stocks Tank When QE Ends?
- 3 Top-Ranked Consumer ETFs to Buy Now
- This Week's Aggressive Growth Stocks
- Who Wants to Keep "Too Big to Fail" Alive?
- Debt-Ceiling Alarm Bell Tolls
- Avoid These 3 Eurozone ETFs This Summer
- RTI: When Will We Finally See a Pullback?
- Top Stocks with Big Potential Catch-Up Moves
- AWS 5/22: Will Bernanke Show His Hand?
- PFP 5/22: Singular Stock Focus Continues
Recent Quotes
| No Recent Quote currently available |
My Portfolio
|
My Portfolio Tracker One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts. Set yours up today. |
More Zacks Resources
Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.
Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.
Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.
My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.
Zacks #1 Stocks on the Move 05/22/2013
| Company Name | Symbol | %Change |
|---|---|---|
| ALLIANCE FIB | AFOP | 9.31% |
| SONIC FOUNDR | SOFO | 7.77% |
| TRI TECH HOL | TRIT | 6.62% |
| A M R CP | AAMRQ | 4.52% |
| FLOWERS FOOD | FLO | 4.31% |
Quick Links
Resources
Client Support
Zacks Research is Reported On:
Zacks Investment Research
is an A+ Rated BBB
Accredited Business.
Copyright 2013 Zacks Investment Research
At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1986 it has nearly tripled the S&P 500 with an average gain of +26% per year. These returns cover a period from 1986-2011 and were examined and attested by Baker Tilly, an independent accounting firm.
Visit performance for information about the performance numbers displayed above.
NYSE and AMEX data is at least 20 minutes delayed. NASDAQ data is at least 15 minutes delayed.
This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext. 9339.
PDL BioPharma Inc. ( PDLI - Analyst Report ) posted first quarter earnings of 30 cents per share, above the year-ago figure of 25 cents and the Zacks Consensus Estimate of 26 cents. Lower diluted weighted average shares outstanding offset the decline in revenue to drive earnings in the quarter.
PDL BioPharma generated first-quarter 2012 revenue of $77.3 million, representing a 7.2% decline from $83.3 million in the prior-year period. Revenues were slightly above the Zacks Consensus Estimate of $77 million and the guidance of $77 million announced by the company in March 2012. First quarter 2011 revenues were boosted by a $10 million sum received from UCB Pharma S.A. as final settlement of a legal dispute.
Quarter in Detail
PDL BioPharma currently derives a significant portion of its revenue from licenses granted to other companies.
PDL BioPharma receives royalties on worldwide net sales of Roche Holdings Ltd.'s ( RHHBY ) Avastin and Herceptin; Roche and Novartis’ ( NVS - Snapshot Report ) Lucentis and Xolair; and Elan Corporation ( ELN - Snapshot Report ) and Biogen Idec’s ( BIIB - Analyst Report ) Tysabri.
Royalty revenues of $77.3 million represented an increase of 5.5% from the year-ago period. Increased royalties on sales of Herceptin, Lucentis, Xolair and Tysabri drove first quarter 2012 royalties.
Effective from the second quarter of 2011, PDL BioPharma started paying back a portion of the royalties it receives on Lucentis sales outside the U.S to Novartis. The payment is made in accordance with a settlement agreement, which the companies had entered into in February 2011. The first quarter 2012 revenue is net of this payment.
Avastin sales suffered due to the withdrawal of the drug in the U.S. for the metastatic breast cancer indication as well as pricing pressure in the E.U. In the first quarter of 2012, Roche reported a mere 1% year-over-year growth in Avastin revenues.
General and administrative (G&A) expenses were $6.9 million in the reported quarter, up approximately 20.2% due to the company’s efforts to obtain new royalty assets, expenses associated with the tender offer and exchange transaction for the Series 2012 Notes.
On March 14, 2012, PDL BioPharma paid the first quarterly dividend of 15 cents per share.
The company is expected to provide second quarter 2012 revenue guidance in early June 2012.
Our Recommendation
Currently, we have an Outperform recommendation on PDL BioPharma. The stock carries a Zacks #1 Rank (“Strong Buy”) in the short term.
Read the full on RHHBY
Read the full Snapshot Report on ELN
Read the full Analyst Report on PDLI
Read the full Snapshot Report on NVS
Read the full Analyst Report on BIIB