pSivida Corp. (PSDV) Expected to Post Quarterly Sales of $530,000.00
Equities research analysts expect that pSivida Corp. (NASDAQ:PSDV) will report sales of $530,000.00 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for pSivida Corp.’s earnings. The highest sales estimate is $600,000.00 and the lowest is $500,000.00. pSivida Corp. reported sales of $300,000.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 76.7%. The firm is scheduled to issue its next earnings report on Monday, September 11th.
On average, analysts expect that pSivida Corp. will report full year sales of $530,000.00 for the current fiscal year, with estimates ranging from $7.34 million to $7.40 million. For the next fiscal year, analysts anticipate that the business will report sales of $33.73 million per share, with estimates ranging from $4.30 million to $87.30 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for pSivida Corp..
pSivida Corp. (NASDAQ:PSDV) last announced its quarterly earnings data on Thursday, May 4th. The company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). The company had revenue of $0.59 million for the quarter, compared to analyst estimates of $0.36 million. pSivida Corp. had a negative return on equity of 119.87% and a negative net margin of 262.62%.
Several brokerages have recently issued reports on PSDV. HC Wainwright restated a “buy” rating and issued a $8.00 price objective on shares of pSivida Corp. in a research report on Tuesday, May 30th. FBR & Co restated an “outperform” rating and issued a $7.00 price objective on shares of pSivida Corp. in a research report on Monday, May 15th. Finally, Rodman & Renshaw began coverage on pSivida Corp. in a research report on Tuesday, May 30th. They issued a “buy” rating and a $8.00 price objective on the stock.
Shares of pSivida Corp. (PSDV) traded down 4.6171% during mid-day trading on Wednesday, hitting $1.6692. The company’s stock had a trading volume of 1,095,297 shares. The company’s market cap is $65.55 million. pSivida Corp. has a 12-month low of $1.50 and a 12-month high of $4.25. The stock has a 50-day moving average of $2.02 and a 200-day moving average of $1.83.
Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in pSivida Corp. by 34.0% in the fourth quarter. Renaissance Technologies LLC now owns 907,000 shares of the company’s stock valued at $1,551,000 after buying an additional 229,900 shares during the period. Perceptive Advisors LLC acquired a new position in pSivida Corp. during the fourth quarter valued at $3,898,000. Vanguard Group Inc. increased its position in pSivida Corp. by 3.5% in the first quarter. Vanguard Group Inc. now owns 1,145,802 shares of the company’s stock valued at $1,971,000 after buying an additional 38,897 shares during the period. Finally, Geode Capital Management LLC increased its position in pSivida Corp. by 0.5% in the first quarter. Geode Capital Management LLC now owns 143,049 shares of the company’s stock valued at $246,000 after buying an additional 756 shares during the period. Hedge funds and other institutional investors own 20.02% of the company’s stock.
About pSivida Corp.
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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