Laidlaw Begins Coverage on pSivida Corp. (PSDV)
Laidlaw assumed coverage on shares of pSivida Corp. (NASDAQ:PSDV) in a research note issued on Wednesday. The firm set a “buy” rating and a $5.00 price target on the stock. Laidlaw’s target price would suggest a potential upside of 331.03% from the stock’s previous close.
Separately, HC Wainwright set a $5.00 price objective on shares of pSivida Corp. and gave the company a “buy” rating in a report on Wednesday, October 11th. Six analysts have rated the stock with a buy rating, pSivida Corp. presently has a consensus rating of “Buy” and a consensus price target of $8.00.
pSivida Corp. (NASDAQ PSDV) opened at $1.16 on Wednesday. pSivida Corp. has a 12-month low of $1.03 and a 12-month high of $2.45.
pSivida Corp. (NASDAQ:PSDV) last announced its earnings results on Tuesday, November 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.15). pSivida Corp. had a negative net margin of 245.19% and a negative return on equity of 134.34%. research analysts anticipate that pSivida Corp. will post -0.59 earnings per share for the current year.
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An institutional investor recently raised its position in pSivida Corp. stock. Renaissance Technologies LLC raised its position in pSivida Corp. (NASDAQ:PSDV) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 963,043 shares of the company’s stock after purchasing an additional 56,043 shares during the period. Renaissance Technologies LLC owned approximately 2.82% of pSivida Corp. worth $1,656,000 as of its most recent filing with the SEC. 12.99% of the stock is currently owned by institutional investors.
pSivida Corp. Company Profile
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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