pSivida Corp. (NASDAQ:PSDV) has been assigned an average rating of “Buy” from the eight research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $7.67.
PSDV has been the subject of several recent research reports. Laidlaw initiated coverage on pSivida in a research note on Wednesday, November 8th. They issued a “buy” rating and a $5.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of pSivida in a research note on Wednesday, November 8th. ValuEngine cut pSivida from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. B. Riley set a $5.00 price objective on pSivida and gave the company a “buy” rating in a research note on Monday, December 4th. Finally, Northland Securities reiterated a “buy” rating and issued a $10.00 price objective on shares of pSivida in a research note on Monday, December 11th.
pSivida (NASDAQ:PSDV) opened at $1.09 on Friday. The firm has a market capitalization of $49.33, a PE ratio of -1.85 and a beta of 1.26. pSivida has a 52-week low of $0.93 and a 52-week high of $2.45.
A number of hedge funds have recently bought and sold shares of PSDV. OxFORD Asset Management LLP purchased a new stake in pSivida during the second quarter worth approximately $118,000. Essex Investment Management Co. LLC purchased a new stake in pSivida during the fourth quarter worth approximately $173,000. Geode Capital Management LLC lifted its stake in pSivida by 75.0% during the fourth quarter. Geode Capital Management LLC now owns 240,631 shares of the company’s stock worth $259,000 after purchasing an additional 103,150 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in pSivida by 4.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,524,000 shares of the company’s stock worth $1,646,000 after purchasing an additional 59,900 shares during the last quarter. Hedge funds and other institutional investors own 10.06% of the company’s stock.
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pSivida 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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