PDL BioPharma maintained at market perform by JMP

JMP Securities analyst Charles C. Duncan kept PDL BioPharma, Inc. at market perform on news of the company's mixed second-quarter financial results. Top line revenues were slightly below consensus and bottom line earnings beating expectations on a non-GAAP basis. JMP raised its full-year 2006 non-GAAP earnings-per-share estimates to $0.15 per share from $0.06 per share. Shares of the Fremont, Calif.-based biopharmaceutical company were up 21 cents, or 1.22%, at $17.44, on volume of 4,466,211 shares versus the three-month running average of 2,633,200 shares. (Nasdaq: PDLI)

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