PDL BioPharma Gets a Hold Rating from Cowen & Co.

In a report released yesterday, Phil Nadeau from Cowen & Co. maintained a Hold rating on PDL BioPharma (NASDAQ: PDLI), with a price target of $3. The company’s shares opened today at $2.85.

According to TipRanks.com, Nadeau is a 5-star analyst with an average return of 12.4% and a 51.6% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Voyager Therapeutics Inc, and Adverum Biotechnologies.

PDL BioPharma has an analyst consensus of Hold, with a price target consensus of $3.

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Based on PDL BioPharma’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $22.34 million. In comparison, last year the company had a net profit of $7.24 million.

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PDL BioPharma, Inc. produces and markets biopharmaceutical products. It focuses on intellectual property asset management, investing in new royalty bearing assets and maximizing the value of its patent portfolio and related assets.