Laidlaw initiated coverage on shares of pSivida Corp. (NASDAQ:PSDV) in a report issued on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $5.00 price objective on the stock.
Separately, HC Wainwright set a $5.00 price objective on shares of pSivida Corp. and gave the company a buy rating in a research report on Wednesday, October 11th. Six equities research analysts have rated the stock with a buy rating, pSivida Corp. currently has a consensus rating of Buy and a consensus price target of $8.00.
pSivida Corp. (NASDAQ PSDV) traded up $0.04 during mid-day trading on Wednesday, hitting $1.38. 1,413,600 shares of the company traded hands, compared to its average volume of 866,098. pSivida Corp. has a twelve month low of $1.03 and a twelve month high of $2.45.
pSivida Corp. (NASDAQ:PSDV) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($0.15) EPS for the quarter, hitting the consensus estimate of ($0.15). The business had revenue of $0.39 million during the quarter, compared to analysts’ expectations of $0.74 million. pSivida Corp. had a negative net margin of 226.31% and a negative return on equity of 139.56%. analysts anticipate that pSivida Corp. will post -0.59 EPS for the current year.
A hedge fund recently bought a new stake in pSivida Corp. stock. OxFORD Asset Management LLP purchased a new stake in pSivida Corp. (NASDAQ:PSDV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 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. Hedge funds and other institutional investors 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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