pSivida Corp. (NASDAQ:PSDV) Expected to Announce Quarterly Sales of $520,000.00
Brokerages expect pSivida Corp. (NASDAQ:PSDV) to post sales of $520,000.00 for the current fiscal quarter, Zacks reports. Three analysts have made estimates for pSivida Corp.’s earnings, with the highest sales estimate coming in at $600,000.00 and the lowest estimate coming in at $450,000.00. 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 73.3%. The firm is expected to report its next earnings report on Monday, September 11th.
On average, analysts expect that pSivida Corp. will report full year sales of $520,000.00 for the current financial year, with estimates ranging from $7.29 million to $7.40 million. For the next financial year, analysts forecast that the company will post sales of $31.14 million per share, with estimates ranging from $1.82 million to $87.30 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover pSivida Corp..
pSivida Corp. (NASDAQ:PSDV) last issued its earnings results on Thursday, May 4th. The company reported ($0.15) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.15). pSivida Corp. had a negative return on equity of 119.87% and a negative net margin of 262.62%. The firm had revenue of $0.59 million for the quarter, compared to analyst estimates of $0.36 million.
Several analysts recently commented on PSDV shares. Ladenburg Thalmann Financial Services set a $13.00 price target on pSivida Corp. and gave the company a “buy” rating in a research note on Wednesday, June 14th. HC Wainwright set a $5.00 price target on pSivida Corp. and gave the company a “buy” rating in a research note on Tuesday, July 11th. Rodman & Renshaw started coverage on pSivida Corp. in a research note on Tuesday, May 30th. They issued a “buy” rating and a $8.00 price target on the stock. FBR & Co reaffirmed a “buy” rating on shares of pSivida Corp. in a research note on Wednesday, June 14th. Finally, Northland Securities set a $10.00 price target on pSivida Corp. and gave the company a “buy” rating in a research note on Wednesday, June 14th. Five analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $8.60.
In other pSivida Corp. news, insider Nancy Lurker acquired 56,700 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was purchased at an average price of $1.76 per share, for a total transaction of $99,792.00. Following the transaction, the insider now owns 56,700 shares in the company, valued at approximately $99,792. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.59% of the company’s stock.
An institutional investor recently raised its position in pSivida Corp. stock. Renaissance Technologies LLC raised 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 firm owned 963,043 shares of the company’s stock after buying an additional 56,043 shares during the period. Renaissance Technologies LLC owned about 2.82% of pSivida Corp. worth $1,656,000 as of its most recent filing with the SEC. 20.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of pSivida Corp. (NASDAQ PSDV) opened at 1.23 on Tuesday. The firm has a 50-day moving average price of $1.60 and a 200 day moving average price of $1.78. pSivida Corp. has a 12 month low of $1.13 and a 12 month high of $4.25. The firm’s market capitalization is $48.30 million.
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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