pSivida Corp. (PSDV) Expected to Post Earnings of -$0.16 Per Share
Wall Street brokerages forecast that pSivida Corp. (NASDAQ:PSDV) will report earnings per share (EPS) of ($0.16) for the current fiscal quarter, according to Zacks. Two analysts have made estimates for pSivida Corp.’s earnings, with the lowest EPS estimate coming in at ($0.17) and the highest estimate coming in at ($0.14). pSivida Corp. reported earnings of ($0.19) per share during the same quarter last year, which would suggest a positive year over year growth rate of 15.8%. The firm is scheduled to issue its next earnings report on Monday, September 11th.
According to Zacks, analysts expect that pSivida Corp. will report full year earnings of ($0.51) per share for the current financial year, with EPS estimates ranging from ($0.53) to ($0.50). For the next financial year, analysts expect that the business will report earnings of ($0.56) per share, with EPS estimates ranging from ($0.69) to ($0.42). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for pSivida Corp..
A number of brokerages have recently commented on PSDV. HC Wainwright set a $8.00 price objective on shares of pSivida Corp. and gave the company a “buy” rating in a research report on Saturday, June 24th. Northland Securities set a $10.00 price objective on shares of pSivida Corp. and gave the company a “buy” rating in a research report on Wednesday, June 14th. FBR & Co reissued an “outperform” rating and issued a $7.00 price objective on shares of pSivida Corp. in a research report on Monday, May 15th. Rodman & Renshaw began coverage on shares of pSivida Corp. in a research report on Tuesday, May 30th. They issued a “buy” rating and a $8.00 price objective for the company. Finally, 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 report on Wednesday, June 14th. Five research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $8.60.
In other news, insider Nancy Lurker acquired 56,700 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was bought at an average price of $1.76 per share, with a total value of $99,792.00. Following the transaction, the insider now directly owns 56,700 shares in the company, valued at approximately $99,792. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.59% of the company’s stock.
A hedge fund recently raised its stake in pSivida Corp. stock. Renaissance Technologies LLC increased its position in pSivida Corp. (NASDAQ:PSDV) by 34.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 907,000 shares of the company’s stock after buying an additional 229,900 shares during the period. Renaissance Technologies LLC owned 2.65% of pSivida Corp. worth $1,551,000 at the end of the most recent quarter. Institutional investors own 20.13% of the company’s stock.
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Shares of pSivida Corp. (NASDAQ:PSDV) traded down 1.85% during midday trading on Thursday, reaching $1.06. 126,464 shares of the company were exchanged. The stock has a 50-day moving average price of $1.37 and a 200 day moving average price of $1.72. The company’s market capitalization is $41.62 million. pSivida Corp. has a 52-week low of $1.04 and a 52-week high of $4.03.
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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