pSivida Corp. (NASDAQ:PSDV) issued its quarterly earnings results on Monday. The company reported ($0.16) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.16), Morningstar.com reports. pSivida Corp. had a negative net margin of 262.62% and a negative return on equity of 119.87%.
Shares of pSivida Corp. (NASDAQ:PSDV) opened at 1.37 on Tuesday. pSivida Corp. has a 12-month low of $1.03 and a 12-month high of $3.82. The stock’s market capitalization is $53.80 million. The firm’s 50-day moving average is $1.19 and its 200 day moving average is $1.65.
A number of equities analysts recently weighed in on PSDV shares. HC Wainwright set a $5.00 price target on shares of pSivida Corp. and gave the stock a “buy” rating in a report on Tuesday, July 11th. Rodman & Renshaw started coverage on shares of pSivida Corp. in a report on Tuesday, May 30th. They issued a “buy” rating and a $8.00 price target on the stock. FBR & Co reissued an “outperform” rating and issued a $7.00 price target on shares of pSivida Corp. in a report on Monday, May 15th. Ladenburg Thalmann Financial Services set a $13.00 price target on shares of pSivida Corp. and gave the stock a “buy” rating in a report on Wednesday, June 14th. Finally, Northland Securities set a $10.00 price target on shares of pSivida Corp. and gave the stock a “buy” rating in a report on Wednesday, June 14th. Five equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $8.60.
In other news, insider Nancy Lurker bought 56,700 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were acquired at an average cost of $1.76 per share, with a total value of $99,792.00. Following the completion of the transaction, the insider now owns 56,700 shares of the company’s stock, valued at approximately $99,792. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.59% of the company’s stock.
An institutional investor recently raised its position in pSivida Corp. stock. Renaissance Technologies LLC boosted its position in pSivida Corp. (NASDAQ:PSDV) by 6.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 963,043 shares of the company’s stock after purchasing an additional 56,043 shares during the period. Renaissance Technologies LLC owned about 2.82% of pSivida Corp. worth $1,656,000 as of its most recent SEC filing. 14.95% 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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