Zacks: Analysts Expect pSivida Corp. (PSDV) Will Announce Quarterly Sales of $480,000.00
Wall Street analysts expect pSivida Corp. (NASDAQ:PSDV) to announce $480,000.00 in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for pSivida Corp.’s earnings. The lowest sales estimate is $450,000.00 and the highest is $500,000.00. pSivida Corp. reported sales of $300,000.00 in the same quarter last year, which would suggest a positive year over year growth rate of 60%. The business is scheduled to issue its next earnings results after the market closes on Monday, September 11th.
According to Zacks, analysts expect that pSivida Corp. will report full year sales of $480,000.00 for the current financial year, with estimates ranging from $7.29 million to $7.40 million. For the next year, analysts expect that the company will post sales of $3.06 million per share, with estimates ranging from $1.82 million to $4.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow pSivida Corp..
PSDV has been the topic of a number of recent research reports. HC Wainwright set a $5.00 price target on pSivida Corp. and gave the company a “buy” rating in a research note on Tuesday, July 11th. Rodman & Renshaw initiated coverage on pSivida Corp. in a research note on Tuesday, May 30th. They set a “buy” rating and a $8.00 price target on the stock. FBR & Co reissued an “outperform” rating and set a $7.00 price target on shares of pSivida Corp. in a research note on Monday, May 15th. Ladenburg Thalmann Financial Services set a $13.00 price target on pSivida Corp. and gave the company a “buy” rating in a research note on Wednesday, June 14th. Finally, Northland Securities set a $10.00 price objective on pSivida Corp. and gave the stock a “buy” rating in a research report on Wednesday, June 14th. Five investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $8.60.
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In related news, insider Nancy Lurker acquired 56,700 shares of the stock in a transaction dated Wednesday, June 14th. The stock was bought at an average cost of $1.76 per share, for a total transaction of $99,792.00. Following the completion of the transaction, the insider now directly owns 56,700 shares of the company’s stock, valued at $99,792. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.59% of the stock is owned by company insiders.
A hedge fund recently bought a new stake in pSivida Corp. stock. OxFORD Asset Management LLP bought a new position in pSivida Corp. (NASDAQ:PSDV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 69,004 shares of the company’s stock, valued at approximately $118,000. OxFORD Asset Management LLP owned approximately 0.18% of pSivida Corp. as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 14.95% of the company’s stock.
Shares of pSivida Corp. (PSDV) traded down 1.54% during mid-day trading on Thursday, reaching $1.28. The company’s stock had a trading volume of 142,434 shares. The company has a 50-day moving average of $1.20 and a 200-day moving average of $1.66. pSivida Corp. has a 12 month low of $1.03 and a 12 month high of $3.83. The firm’s market cap is $50.26 million.
About pSivida Corp.
pSivida Corp. develops drug delivery products primarily for the treatment of chronic eye diseases. The Company operates through the biotechnology sector segment. The Company has developed three products for treatment of back-of-the-eye diseases, which include Medidur for posterior segment uveitis, its lead product candidate that is in pivotal Phase III clinical trials; ILUVIEN for diabetic macular edema (DME), its lead licensed product that is sold in the United States and European Union (EU) countries, and Retisert.
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