Posts for Ticker ‘PDLI’

When Key Biotechs Have Low P/E’s & Value Screens (AMGN, BIIB, CEPH, CBST, GENZ, PDLI)

Biotech ImageIt usually takes an event or a series of events for biotech stocks to ever look cheap compared to the overall market or even to sub-sectors within health care.  They generally trade at higher multiples of revenues and with high P/E ratios, assuming they even have real sales-generated revenues and earnings.  But in today’s climate there are many of the large key biotech stocks that are now trading with market-discounts on the P/E ratios and on multiples of revenues as valuation metrics.  We ran a full screen for BioHealthInvestor.com and some of the key names that came up with low P/E and revenue multiples were Amgen Inc. (NASDAQ: AMGN), Biogen Idec Inc. (NASDAQ: BIIB), Cephalon Inc. (NASDAQ: CEPH), Cubist Pharmaceuticals Inc. (NASDAQ: CBST), Genzyme Corporation (NASDAQ: GENZ), and PDL BioPharma, Inc. (NASDAQ: PDLI).

There are generally some reasons that have gotten these to cheap screening levels, but some of these are showing significant value for a sector that usually commands a high-premium to most sectors.  Amgen has recovered substantially from its woes, and Biogen has as well.  Genzyme’s troubles allowed it to make the screen with some key caveats, and the valuation screens elsewhere showed that Cephalon, Cubist, and PDL are worth a look.  All of these companies were also well above our screening threshold of $400 million in market cap and average volume of 250,000 shares or more.  These all came in above $1 billion in market cap and most never see under 1 million shares per day in average volume.

The full story is available at BioHealthInvestor.com.

-The 24/7 Wall Street Team

Posted on: August 24, 2009 – 9:54 am in Biotech, Drug companies, Value Investing, , , , , ,

Top 10 Pre-Market Analyst Upgrades & Downgrades (ALTR, AMZN, BCE, BIIB, LEAP, PDLI, CLUB, VAR, AUY)

Money_stack_pic_2It is still fairly thin in analyst upgrades and downgrades as this week marks the return of investment banking and research departments from what is nearly a two-week hiatus.  Here are the few stand-out calls we have seen early this morning with more than two hours to the open:

  • Altera (NASDAQ: ALTR) Raised to Outperform at Wachovia.
  • Amazon.com (NASDAQ: AMZN) Raised to Overweight at JPMorgan.
  • BCE (NYSE: BCE) Cut to Sector Perform at Scotia.
  • Biogen Idec (NASDAQ: BIIB) Cut to Neutral at JPMorgan.
  • Leap Wireless (NASDAQ: LEAP) Raised to Outperform at Wachovia.
  • PDL BioPharma (NASDAQ: PDLI) Raised to Neutral at JPMorgan
  • Town Sports International (NASDAQ: CLUB) Cut to Neutral at Piper Jaffray.
  • Varian Medical Systems (NYSE: VAR) Cut to Perform at Oppenheimer.
  • Yamana (NYSE: AUY) Cut to Buy at TD.

Jon C. Ogg
January 5, 2009

Posted on: January 5, 2009 – 7:36 am in Analyst Calls, , , , , , , , ,

52-Week Low Club (ARTC, CORL, GEOY, HPGP, HLND, HRC, PDLI, SNN, TTWO)

Burning_money_picThere are plenty of 52-week lows out there for the picking.  These are some of the major lows we saw today which we have seen.  Some are on specific news, and some are just on continued selling.  ArthroCare Corporation (NASDAQ: ARTC), Corel Corp. (NASDAQ: CORL), GeoEye, Inc. (NASDAQ: GEOY), Hiland Holdings GP, LP (NASDAQ: HPGP) and Hiland Partners, LP (NASDAQ: HLND), Hill-Rom Holdings, Inc. (NYSE: HRC), PDL BioPharma Inc. (NASDAQ: PDLI), Smith & Nephew (NYSE: SNN), and Take-Two Interactive (NASDAQ: TTWO) are among today’s burnt stocks. 

Here are some brief explanations on each stock:

Read More »

Posted on: December 19, 2008 – 3:01 pm in HI/LOW, Trading Alert, , , , , , , , ,

Top Pre-Market Analyst Downgrades (AUDC, BDX, FUL, LEH, MEDX, NVDA, PDLI)

These are some of the early bird analyst downgrades and negative calls we are seeing this Thursday morning with more than two hours to the open:

  • AudioCodes (AUDC) cut to neutral at Merrill Lynch.
  • Becton Dickinson (BDX) cut to neutral at Credit Suisse.
  • H.B. Fuller (FUL) cut to neutral at JPMorgan.
  • Lehman Brothers (LEH) cut to neutral at Goldman Sachs; cut to Hold at Citigroup.
  • Medarex (MEDX) cut to neutral at JPMorgan.
  • NVIDIA (NVDA) cut to equal weight at Lehman.
  • PDL BioPharma (PDLI) cut to underweight at JPMorgan.

Jon C. Ogg
September 11, 2008

Posted on: September 11, 2008 – 6:19 am in Analyst Calls, , , , , , ,

Top 10 Pre-Market Analyst Calls (AFL, AW, CPB, MWV, NYX, ODFL, PDLI, PCZ, SPIL, WDFC)

There are other calls out there, but these are ten of the early morning analyst calls that we are focused on this Friday 13th:

  • Aflac (NYSE: AFL) Started as Buy at SunTrust Robinson Humphrey.
  • Allied Waste (NYSE: AW) Raised To Buy From Neutral at Goldman Sachs.
  • Campbell Soup (NYSE: CPB) Raised To Overweight from Equalweight at Lehman.
  • MeadWestvaco (NYSE: MWV) Raised to Buy from Hold at Citigroup.
  • NYSE Euronext (NYSE: NYX) Started as Neutral at Credit Suisse.
  • Old Dominion Freight Line (NASDAQ: ODFL) Raised to Outperform from Neutral at Baird.
  • PDL Biopharma (NASDAQ: PDLI) Cut to Neutral from Outperform at Credit Suisse.
  • Petro-Canada (NYSE: PCZ) raised to Buy at Banc of America.
  • Siliconware Precision (NASDAQ: SPIL) Raised to Neutral from Sell at UBS.
  • WD-40 (NASDAQ: WDFC) Cut to Underweight from Neutral at JPMorgan.

Jon C. Ogg
June 13, 2008

Posted on: June 13, 2008 – 6:51 am in Analyst Calls, , , , , , , , , ,

52-Week Lows, Massive List (ALU, BGP, CELL, BBW, CVO, DENN, GCI, INFY, INTU, KLAC, NT, NWA, NXTM, PDLI, PFE, Q, SVVS, SNE, BID, TWX)

This was a massive list of lows today.  Not all closed on lows, but the list was chopped down greatly just to accommodate the size of it.  If you look at the list, there are no brokerage firms listed nor anymajor banks.  The major banks weren’t hitting the list but mostbrokerage firms were.  You can thank a firm called Bare Spurns for that. Here goes the eulogy:

  • Advance America (NYSE: AEA).. down over 10%, no real news released; financial exposure, although they are probably getting more and more pay day loans now. $6.08 at 3:30, old low $6.08.
  • Alcatel-Lucent (NYSE: ALU)… down almost 5% at $5.29, although late day got back above that $5.27 year low.
  • Borders Group (NYSE: BGP)… down another 6% ahead of earnings next week. The people that still buy books may be headed to the used book stores in tough times.  Maybe even the library.
  • Brightpoint (NASDSAQ: CELL)… day in and day out this one has been getting hit.
  • Build-a-Bear Workshop (NYSE: BBW)… now it can be even more opportunistic after ending strategic review and adding a larger buyback plan.
  • Cenveo (NYSE: CVO)… down 14% after earnings.
  • Denny’s (NASDAQ: DENN)… under $3.00 now… stock cheaper than the Grand Slam breakfast?  Maybe people can’t afford $3.00 breakfasts.
  • Gannett Co. Inc. (NYSE: GCI)… after earnings people still wary of newspaper operations.
  • General Motors (NYSE: GM)… flirting with 5-year lows.
  • Infosys Tech (NASDAQ: INFY)… This didn’t close under the old $33.80 low of the year, but was there intraday.  Maybe outsourcing is peaking.
  • Intuit (NYSE: INTU)… had no news, that pre-tax season trade getting cheaper and cheaper.
  • KLA-Tencor (NASDAQ: KLAC) hit hard again after downgrade already shaved off almost 10% earlier in wee.  Down 4.4% at $36.40 with 15 minutes to close.
  • Nortel Networks (NYSE: NT) at $6.34 at 3:45… High is $27.71.  What more can you say? It’s always on the list.
  • Northwest Airlines (NYSE: NWA) down over 3.5% at $9.50 with 15 minutes to close. What ever happened to that merger they were supposed to be in?
  • Nxstage Medical (NASDAQ: NXTM)… are kidney dialysis treatments economically sensitive?
  • PDL Biopharma (NASDAQ: PDLI).. so much for that buyout hope, that’s already been called off.  Almost under a $1 Billion market cap.
  • Pfizer (NYSE: PFE)… a true surprise to see this one here again.  Will it bust $20? Shares down 3% at $20.55 with 10 minutes to close.
  • Qwest Communications (NYSE: Q)…. now under $5.00.
  • Savvis Inc. (NASDAQ: SVVS)… down more than 5% to under the old $15.14 low. Doing IT, bandwidth, storage, network infrastructure, not as great when you have huge exposure to financial institutions.
  • Sony Corp. (NYSE: SNE)… just when it was getting its act back together… $41.81 right before close; old 52-week low was $42.10.
  • Sothebys (NYSE: BID)… down more than half from highs.  Wall Street’s "Even the rich are bitching!" must apply to high-end auctioneers too.
  • Time Warner (NYSE: TWX)….. now under $14.00.

Jon C. Ogg
March 14, 2008

Posted on: March 14, 2008 – 3:04 pm in HI/LOW, , , , , , , , , , , , , , , , , , , ,

Biotech Monday (CRIS, CGRB, EXEL, MNKD, PDLI, SQNM, TCM)

Curis Inc. (NASDAQ: CRIS) shares down 18% after development partner Wyeth terminated their contract that focused on cancer treatment developments. Shares are down $0.29 to $1.14. The 52 week range is $0.86 to $2.35.

Cougar Biotechnology, Inc. (NASDAQ: CGRB) down 23% to $17.75.

Exelixis (NASDAQ: EXEL) hit a new 5 year low this morning. Its down 7% to $5.38 on a 52 week low of $5.67 to $12.77.  No special reason for the downturn aside from a market wide lack of interest in developmental-stage drugs.

MannKind Corp. (NASDAQ: MNKD) downgrades and fears of ending inhaled insulin development lead to a new all-time low. Shares are down 18% at $4.52 in mid-day trading. The 52 week range is $5.25 to $15.99.

PDL BioPharma (NASDAQ: PDLI) fell another 8% after the recent drops after it canceled its sale last week.  Its shares hit lows of $10.12, another 52-week low.

Sequenom Inc. (NASDAQ: SQNM) down 17% on no new news. Shares are trading at  $5.47  with a  52 week range of $2.93 to $11.63.

Tongjitang Chinese Medicines Co. (NYSE: TCM) shares are up over 33% to $8.83 in mid-day trading on news that the CEO and another board director submitted a proposal to acquire all outstanding shares and take the company private. The 52 week range is $6.57 to $12.88.

Rachel Lopez
March 10, 2008

Posted on: March 10, 2008 – 2:25 pm in Biotech, , , , , , ,

The 52-Week Low Club (FNM)(MYL)(PDLI)

Moneygram (MGI) Deal to buy company falls apart. Drops to $2.45 from 52-week high of $30.67.

Universal American Financial (UAM) Cuts profit view for the year.Drops to $11.47 from 52-week high of $26.50.

Fannie Mae (FNM) Down on debt sales news. Drops to $23.84 from 52-week high of $70.57.

Mylan Labs (MYL) Weak outlook for upcoming period. Sells off to $10.67 from 52-week high of $22.90.

PDL Biopharma (PDLI) Cutting large numbers of jobs and halting M&A. Falls to $10.36 from 52-week high of $27.98.

UCBH Holdings (UCBH) Bank issues revision of loan-loss provisions taken during the fourth quarter. Sells down to $8.82 from 52-week high of $20.22.

Douglas A. McIntyre

Posted on: March 5, 2008 – 4:22 pm in HI/LOW, , , , , ,

Top 10 Pre-Market Analyst Calls (DD, ELN, LOGI, MSFT, OMPI, PDLI, RRGB, RMG, WHR, XFML )

These are not all of the analyst calls moving stocks this morning, but these are the top ten individual analyst calls that 247WallSt.com is focusing on this morning:

  • DuPont (NYSE: DD) started as Outperform at Credit Suisse.
  • Elan (NYSE: ELN) started as Outperform at Credit Suisse.
  • Logitec (NASDAQ: LOGI) started as Buy at Citigroup.
  • Microsoft (NASDAQ: MSFT) started as Buy at Jefferies.
  • Obagi Medical (NASDAQ: OMPI) raised to Outperform at Oppenheimer.
  • PDL BioPharma (NASDAQ: PDLI) cut to Equal-Weight at Lehman Brothers.
  • Red Robin Gourmet Burgers (NASDAQ: RRGB) raised to Overweight at JP Morgan.
  • RiskMetrics Group (NYSE: RMG) started as Outperform at Credit Suisse; started as Neutral at Banc of America.
  • Whirlpool (NYSE: WHR) downgraded to Underweight at JPMorgan.
  • Xinhua Financial Media (NASDAQ: XFML) downgraded to Neutral at JP Morgan.

Jon C. Ogg
March 5, 2008

Posted on: March 5, 2008 – 7:12 am in Analyst Calls, , , , , , , , , ,

Top 10 Analyst Calls (AIG, AAPL, CMCSA, CAG, DRIV, ETEL, DNA, PBG, PDLI, SURW)

These aren’t the only analyst calls we are watching, but these are the top ten that 247WallSt.com is reviewing:

  • AIG (AIG) reiterated Buy at Goldman Sachs.
  • Apple (AAPL) target raised to $249 from $243 and estimates raised to $5.40 at Bear Stearns.
  • Comcast (CMCSA) downgraded to Neutral from Buy at Goldman Sachs (maybe late yesterday call).
  • ConAgra (CAG) started as Outperform at Bear Stearns.
  • Digital River (DRIV) downgraded to Hold from Buy at Deutsche Bank.
  • eTelecare (ETEL) started as Outperform at FBR.
  • Genentech (DNA) downgraded to Hold at Jefferies.
  • Pepsi Bottling Group (PBG) downgraded to SELL from Neutral at Goldman Sachs.
  • PDL BioPharma (PDLI) raised to Overweight Lehman Brothers.
  • SureWest Comms (SURW) started as Buy at Jefferies.

Jon C. Ogg
December 6, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: December 6, 2007 – 8:01 am in Analyst Calls, , , , , , , , , ,

Pre-Market Analyst Calls (October 2, 2007)

ACAD started as Hold at Citigroup.
ALB raised to Neutral at Goldman Sachs.
AMB raised to Buy at B of A.
APD cut to Neutral at Goldman Sachs.
BAC started as Buy at Goldman Sachs.
BDN cut to Neutral at B of A.
BIIB cut to Underperform at Credit Suisse.
BRLC cut to Neutral at R.W.Baird.
CBS cut to Hold at Deutsche Bank.
CNH cut to Neutral at Goldman Sachs.
CYPB started as Outperform at FBR.
ELN started as Underperform at FBR.
FRX raised to Hold at Citigroup.
MDCO raised to Buy at UBS.
MON removed from Goldman Sachs Conviction Buy List.
MPG cut to Sell at B of A.
NOK cut to Mkt Perform at JMP Securities.
NVT raised to Hold at Deutsche Bank (ooops); cut to Neutral at UBS.
ONXX cut to Peer Perform at at Bear Stearns.
PDLI raised to Outperform at Wachovia.
PLD raised to Buy at B of A.
RATE cut to Neutral at Merriman Curhan Ford.
SLG cut to Neutral at B of A.
STEI started as Buy at B of A.
UBS raised to Neutral at JPMorgan.
VAL cut to Sell at Goldman Sachs.
WAG cut to Neutral at Goldman Sachs (late Monday call); cut to Neutral at Merrill Lynch.

Jon C. Ogg
October 2, 2007

Posted on: October 2, 2007 – 6:42 am in Analyst Calls, , , , , , , , , , , , , , , , ,

Cramer Talks Fannie, Freddie, Biotech

On today’s STOP TRADING segment on CNBC, Jim Cramer discussed Freddie Mac (NYSE:FRE) and Fannie Mae (NYSE:FNM) and said he just took a big profit on Fannie Mae. On Countrywide Financial (NYSE:CFC) he would watch the deposits over $100,000.00 that are FDIC insured to see if the clients are worried about the bank failing, and then he’d look for a trade if the deposits aren’t leaving the bank.

On Lamar Advertising (NASDAQ:LAMR), this one came straight down on safety concerns that moving LCD ads on highways may get some regulation over safety issues because ads are too eye catching.

In biotech-land, Jim Cramer also discussed the news out of PDL Biopharma (NASDAQ:PDLI) after the CEO finally quit after endless pressure to leave and this one could now finally be acquired for much higher.  Shares are up about 5% today now that he is finally out of the way.

Jon C. Ogg
August 20, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: August 20, 2007 – 1:49 pm in Cramer, , , ,

Pre-Market Analyst Calls (June 7, 2007)

ASML raised to Outperform at Bernstein.
CENT cut to Neutral at B of A.
COBZ raised to Outperform at KBW.
DCP raised to Outperform at CIBC.
DGX raised to Buy at UBS.
ECL raised to Buy at Jefferies.
FNM raised to Outperform at FBR.
GD raised to Overweight at Lehman.
HC raised to Overweight at JPMorgan.
IFX raised to Mkt Perform at Bernstein.
IO started as Buy at Jefferies.
KBR started as Outperform at Credit Suisse.
MHS raised to Buy at UBS.
MKC raised to Outperform at Bear Stearns.
OPTM started as Sector Perform at CIBC.
OREX started as Overweight at JPMorgan.
PDLI cut to Mkt Perform at Wachovia.
PG cut to Equal Weight at Lehman.
RDWR raised to Outperform at CIBC.
VOLV cut to Underweight at JPMorgan.
VRUS started as Outperform at JMP Securities.

Jon C. Ogg
June 7, 2007

Posted on: June 7, 2007 – 6:41 am in Analyst Calls, , , , , , , , , , , , , , , , , , , , ,