pSivida Corp. (PSDV) Receives “Buy” Rating from HC Wainwright
Separately, Laidlaw began coverage on pSivida Corp. in a report on Wednesday. They set a buy rating and a $5.00 price target for the company. Six investment analysts have rated the stock with a buy rating, The stock has a consensus rating of Buy and a consensus target price of $8.00.
pSivida Corp. (NASDAQ PSDV) traded up $0.11 during trading hours on Wednesday, reaching $1.34. The company’s stock had a trading volume of 2,072,392 shares, compared to its average volume of 499,805. pSivida Corp. has a twelve month low of $1.03 and a twelve month high of $2.45.
pSivida Corp. (NASDAQ:PSDV) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.15). pSivida Corp. had a negative return on equity of 127.88% and a negative net margin of 226.31%. The business had revenue of $0.39 million during the quarter, compared to analyst estimates of $0.74 million. equities research analysts expect that pSivida Corp. will post -0.59 EPS for the current fiscal year.
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A hedge fund recently bought a new stake in pSivida Corp. stock. OxFORD Asset Management LLP acquired a new position in pSivida Corp. (NASDAQ:PSDV) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 69,004 shares of the company’s stock, valued at approximately $118,000. OxFORD Asset Management LLP owned 0.18% of pSivida Corp. as of its most recent SEC filing. Institutional investors and hedge funds own 12.99% of the company’s stock.
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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