pSivida Corp. (PSDV) Given a $13.00 Price Target at Ladenburg Thalmann Financial Services
Ladenburg Thalmann Financial Services set a $13.00 price objective on pSivida Corp. (NASDAQ:PSDV) in a research note released on Wednesday morning. The brokerage currently has a buy rating on the stock.
Several other equities analysts also recently issued reports on PSDV. FBR & Co reiterated an outperform rating and set a $7.00 price objective on shares of pSivida Corp. in a research report on Monday, May 15th. Rodman & Renshaw started coverage on pSivida Corp. in a research report on Tuesday, May 30th. They set a buy rating and a $8.00 price objective for the company. HC Wainwright reiterated a buy rating and set a $8.00 price objective on shares of pSivida Corp. in a research report on Tuesday, May 30th. 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 has an average rating of Buy and an average target price of $9.20.
Shares of pSivida Corp. (NASDAQ:PSDV) opened at 1.84 on Wednesday. The stock has a 50 day moving average price of $2.03 and a 200 day moving average price of $1.83. pSivida Corp. has a 12-month low of $1.50 and a 12-month high of $4.25. The firm’s market capitalization is $72.25 million.
pSivida Corp. (NASDAQ:PSDV) last issued its quarterly earnings data on Thursday, May 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.15). The business had revenue of $0.59 million during the quarter, compared to the consensus estimate of $0.36 million. pSivida Corp. had a negative return on equity of 119.87% and a negative net margin of 262.62%. Analysts predict that pSivida Corp. will post ($0.51) EPS for the current fiscal year.
In other news, insider Nancy Lurker bought 56,700 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was purchased 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 approximately $99,792. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.59% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in pSivida Corp. by 6.2% in the first quarter. Renaissance Technologies LLC now owns 963,043 shares of the company’s stock worth $1,656,000 after buying an additional 56,043 shares during the period. Geode Capital Management LLC increased its stake in pSivida Corp. by 0.5% in the first quarter. Geode Capital Management LLC now owns 143,049 shares of the company’s stock worth $246,000 after buying an additional 756 shares during the period. Vanguard Group Inc. increased its stake in pSivida Corp. by 3.5% in the first quarter. Vanguard Group Inc. now owns 1,145,802 shares of the company’s stock worth $1,971,000 after buying an additional 38,897 shares during the period. Finally, Perceptive Advisors LLC purchased a new stake in pSivida Corp. during the fourth quarter worth $3,898,000. Hedge funds and other institutional investors own 20.02% of the company’s stock.
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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