Janney Capital Maintains Neutral On PDL Biopharma; $8 PT

In a research note released today, Janney Capital analyst Kimberly Lee maintained a Neutral rating on PDL Biopharma (PDLI) with a $8 price target, ahead of the upcoming earning results.

Lee noted, “As PDLI pre-announced 2Q revenue of $140 million in early June, we expect earnings to be a non-event. On the earnings call, we anticipate that investors will be focused the company’s business development activities as the company expects to grow top- and bottom-line through accretive acquisitions. We continue to believe that PDLI will continue to acquire meaningful royalty assets similar to the Depomed deal this year”.

According to TipRanks.com, which measures analysts and bloggers success rate based on how their calls perform, analyst Kimberly Lee currently has a one-year average return of 12.0% and a 53% success rate. Lee is ranked #970 out of 3213 analysts.

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