PDL BioPharma, Inc. PDLI reported earnings of 26 cents per share in the second quarter of 2017, surpassing both the Zacks Consensus Estimate and the year-ago earnings of 9 cents per share.The company generated total revenue of $143.8 million in the quarter, significantly skyrocketing 583% compared with the year-earlier figure of $21 million. This increase in revenue is mainly driven by royalties from PDL BioPharma’s licensees to the Queen et al. patents. Also, a rise in royalty rights — change in fair value — contributed to higher revenues this quarter. This was primarily due to the current period’s increase in fair value of the Depomed royalty asset.Notably, the company received cash payments of $34.6 million from the royalty rights acquired from Depomed, primarily related to Glumetza, a product marketed by Valeant Pharmaceuticals International, Inc. VRX. An authorized generic version of Glumetza was also launched by a Valeant subsidiary in February for which, PDL BioPharma receives 50% of the gross margin.The company’s shares rallied more than 10% at after-hours trading on Monday. Shares of the company have outperformed the industry so far this year. The shares have climbed 12.7% compared with the industry’s increase of 8.9%. Quarter in DetailRevenues included royalties of $16.3 million from licenses to the Queen et al. patents, which consisted of royalties earned on sales of Tysabri, net royalty payments from the acquired royalty rights and a change in fair value of the royalty rights assets of 83.7 million, interest revenues of $5.5 million, product revenues of $18.2 million (sales of Noden products – Tekturna and Tekturna HCT in the U.S. and leasing of the LENSAR Laser System) and license and other revenues of $19.5 million.Revenues of $16.2 million from the Queen et al. licenses were higher than the year-ago figure of $14.2 million, courtesy higher royalties on Tysabri from Biogen Inc. BIIB.Research and development (R&D) expense for the quarter came in at $4.2 million. No R&D costs were recorded in the year-ago quarter.General and administrative expenses surged 61.4% to nearly $11.3 million from the year-ago figure.PDL BioPharma, Inc. Price, Consensus and EPS Surprise PDL BioPharma, Inc. Price, Consensus and EPS Surprise | PDL BioPharma, Inc. QuoteZacks Rank & Key PicksPDL BioPharma currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the healthcare sector is Enzo Biochem, Inc. ENZ, carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Enzo Biochem’s loss per share estimates narrowed down from 12 cents to 7 cents for 2017 and from 11 cents to 3 cents for 2018, over the last 60 days. The company delivered positive earnings surprises in all the trailing four quarters with an average beat of 55.83%. The company’s share price has surged 64.5% year to date.5 Trades Could Profit "Big-League" from Trump Policies If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>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 Enzo Biochem, Inc. (ENZ): Free Stock Analysis Report Biogen Inc. (BIIB): Free Stock Analysis Report Valeant Pharmaceuticals International, Inc. (VRX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research