pSivida Corp. (PSDV) Stock Price Down 3%

Shares of pSivida Corp. (NASDAQ:PSDV) traded down 3% during mid-day trading on Monday . The stock traded as low as $1.24 and last traded at $1.38. 1,413,600 shares changed hands during trading, an increase of 180% from the average session volume of 504,005 shares. The stock had previously closed at $1.34.

Several analysts recently issued reports on the company. Laidlaw assumed coverage on pSivida Corp. in a research note on Wednesday, November 8th. They set a “buy” rating and a $5.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of pSivida Corp. in a research note on Wednesday, November 8th. Six analysts have rated the stock with a buy rating, pSivida Corp. presently has a consensus rating of “Buy” and an average price target of $8.00.

pSivida Corp. (NASDAQ:PSDV) last released its quarterly earnings data 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 return on equity of 139.56% and a negative net margin of 226.31%. The business had revenue of $0.39 million for the quarter, compared to the consensus estimate of $0.74 million. equities research analysts anticipate that pSivida Corp. will post -0.59 EPS for the current fiscal year.

A hedge fund recently raised its stake in pSivida Corp. stock. Renaissance Technologies LLC grew its position in pSivida Corp. (NASDAQ:PSDV) by 6.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 963,043 shares of the company’s stock after acquiring an additional 56,043 shares during the quarter. Renaissance Technologies LLC owned 2.82% of pSivida Corp. worth $1,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 12.99% of the stock is owned by institutional investors and hedge funds.

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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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