pSivida Corp. (PSDV) Sees Unusually-High Trading Volume
Shares of pSivida Corp. (NASDAQ:PSDV) saw strong trading volume on Friday . 1,458,484 shares changed hands during mid-day trading, an increase of 226% from the previous session’s volume of 446,772 shares.The stock last traded at $1.24 and had previously closed at $1.26.
Several analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of pSivida Corp. in a research note on Wednesday, September 27th. Ladenburg Thalmann Financial Services set a $13.00 price objective on shares of pSivida Corp. and gave the company a “buy” rating in a research note on Wednesday, June 14th. Northland Securities set a $10.00 price objective on shares of pSivida Corp. and gave the company a “buy” rating in a research note on Wednesday, June 14th. Finally, FBR & Co reiterated a “buy” rating on shares of pSivida Corp. in a research note on Wednesday, June 14th. Five research analysts have rated the stock with a buy rating, pSivida Corp. presently has an average rating of “Buy” and an average price target of $8.60.
The company’s market capitalization is $48.82 million. The firm’s 50 day moving average is $1.22 and its 200-day moving average is $1.59.
pSivida Corp. (NASDAQ:PSDV) last announced its quarterly earnings results on Monday, September 11th. The company reported ($0.16) EPS for the quarter, hitting analysts’ consensus estimates of ($0.16). pSivida Corp. had a negative return on equity of 134.34% and a negative net margin of 245.19%. The company had revenue of $0.70 million during the quarter, compared to analyst estimates of $0.48 million. Equities research analysts expect that pSivida Corp. will post ($0.59) earnings per share for the current fiscal year.
An institutional investor recently raised its position in pSivida Corp. stock. Renaissance Technologies LLC increased its holdings in pSivida Corp. (NASDAQ:PSDV) by 6.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 963,043 shares of the company’s stock after acquiring an additional 56,043 shares during the quarter. Renaissance Technologies LLC owned about 2.82% of pSivida Corp. worth $1,656,000 as of its most recent filing with the Securities & Exchange Commission. 14.94% of the stock is currently owned by hedge funds and other institutional investors.
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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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