PDL maintained at buy by Merrill

Merrill Lynch analyst Tom McGahren reiterated PDL BioPharma Inc. at a buy after lower R&D expenses boosted third-quarter earnings per share. The company reported EPS of $0.23, ex-options expenses, higher than estimates of $0.04 and consensus of negative $0.01, as solid royalty and collaborative revenues and lower R&D expenses more than offset mixed product sales. Shares of the Fremont, Calif.-based biopharmaceutical company were down 92 cents, or 4.38%, at $20.08. (Nasdaq: PDLI)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.