pSivida (PSDV) Given Buy Rating at Northland Securities
PSDV has been the topic of a number of other research reports. HC Wainwright set a $5.00 target price on pSivida and gave the company a buy rating in a research note on Wednesday, October 11th. ValuEngine lowered pSivida from a sell rating to a strong sell rating in a research note on Friday, December 1st. Laidlaw assumed coverage on pSivida in a research note on Wednesday, November 8th. They issued a buy rating and a $5.00 target price on the stock. Finally, B. Riley set a $5.00 target price on pSivida and gave the company a buy rating in a research note on Monday, December 4th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. pSivida presently has a consensus rating of Buy and an average target price of $7.57.
pSivida (PSDV) traded up $0.01 during mid-day trading on Monday, reaching $1.19. The company had a trading volume of 258,145 shares, compared to its average volume of 502,471. pSivida has a 12-month low of $1.03 and a 12-month high of $2.45.
An institutional investor recently raised its position in pSivida stock. Renaissance Technologies LLC raised its holdings in pSivida Corp. (NASDAQ:PSDV) by 6.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 963,043 shares of the company’s stock after acquiring an additional 56,043 shares during the period. Renaissance Technologies LLC owned 2.82% of pSivida worth $1,656,000 at the end of the most recent reporting period. 9.70% of the stock is currently owned by hedge funds and other institutional investors.
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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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