Weakness Seen in PDL BioPharma: Stock Plunges 11.0%

Zacks

PDL BioPharma, Inc. (PDLI) saw a big move last session, as the company’s shares fell by almost 11% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This stock, trading at a volatile range of $8.54 to $9.14 in the past one-month time frame, showed a sharp decline yesterday at $7.46.

Although this slump was obviously disappointing, this biotechnology firm has seen a solitary positive revision and its current year earnings consensus has moved higher over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for PDLI. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.

PDL currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Better-ranked stocks in the same industry include Gentium S.p.A (GENT), Cambrex Corporation. (CBM) and Biogen Idec Inc. (BIIB). All these stocks carry a Zacks Rank #1 (Strong Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>





PDL BIOPHARMA INC (PDLI): Free Stock Analysis Report


Zacks Investment Research

View Comments (0)