$530,000.00 in Sales Expected for pSivida Corp. (NASDAQ:PSDV) This Quarter
Equities analysts forecast that pSivida Corp. (NASDAQ:PSDV) will report sales of $530,000.00 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for pSivida Corp.’s earnings. The lowest sales estimate is $500,000.00 and the highest is $600,000.00. pSivida Corp. reported sales of $300,000.00 in the same quarter last year, which would suggest a positive year-over-year growth rate of 76.7%. The company is scheduled to announce 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 year, with estimates ranging from $7.34 million to $7.40 million. For the next year, analysts forecast that the company will report sales of $33.73 million per share, with estimates ranging from $4.30 million to $87.30 million. Zacks’ sales averages are an average based on a survey of analysts that follow pSivida Corp..
pSivida Corp. (NASDAQ:PSDV) last issued its quarterly earnings results on Thursday, May 4th. The company reported ($0.15) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.15). pSivida Corp. had a negative net margin of 262.62% and a negative return on equity of 119.87%. The company had revenue of $0.59 million during the quarter, compared to analysts’ expectations of $0.36 million.
Several brokerages have recently weighed in on PSDV. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of pSivida Corp. in a research note on Tuesday, May 30th. Rodman & Renshaw began coverage on shares of pSivida Corp. in a research note on Tuesday, May 30th. They issued a “buy” rating and a $8.00 target price for the company. FBR & Co restated an “outperform” rating and issued a $7.00 target price on shares of pSivida Corp. in a research note on Monday, May 15th. Ladenburg Thalmann Financial Services set a $13.00 target price on shares of pSivida Corp. and gave the company a “buy” rating in a research note on Wednesday, June 14th. Finally, Northland Securities set a $10.00 target price on shares of pSivida Corp. and gave the company a “buy” rating in a research note on Wednesday, June 14th. Five research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $9.20.
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In other news, insider Nancy Lurker bought 56,700 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was acquired at an average cost of $1.76 per share, for a total transaction of $99,792.00. Following the completion of the purchase, the insider now owns 56,700 shares of the company’s stock, valued at $99,792. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.59% of the stock is currently owned by corporate insiders.
An institutional investor recently raised its position in pSivida Corp. stock. Renaissance Technologies LLC boosted its stake in shares of pSivida Corp. (NASDAQ:PSDV) by 6.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 963,043 shares of the company’s stock after buying an additional 56,043 shares during the period. Renaissance Technologies LLC owned approximately 2.82% of pSivida Corp. worth $1,656,000 as of its most recent SEC filing. Institutional investors own 20.02% of the company’s stock.
Shares of pSivida Corp. (NASDAQ:PSDV) traded up 2.92% during midday trading on Friday, hitting $1.76. 336,305 shares of the stock were exchanged. pSivida Corp. has a 12-month low of $1.50 and a 12-month high of $4.25. The firm’s market cap is $69.11 million. The firm has a 50 day moving average of $2.02 and a 200 day moving average of $1.83.
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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