pSivida (PSDV) Downgraded to “Strong Sell” at ValuEngine
pSivida (NASDAQ:PSDV) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Friday.
Several other brokerages have also recently issued reports on PSDV. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of pSivida in a research report on Wednesday, November 8th. Laidlaw started coverage on shares of pSivida in a research report on Wednesday, November 8th. They set a “buy” rating and a $5.00 price target on the stock. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. pSivida has a consensus rating of “Buy” and a consensus target price of $8.00.
pSivida (NASDAQ PSDV) traded up $0.02 during mid-day trading on Friday, hitting $1.28. 234,608 shares of the company’s stock were exchanged, compared to its average volume of 735,639. pSivida has a 12-month low of $1.03 and a 12-month high of $2.45.
A hedge fund recently bought a new stake in pSivida stock. OxFORD Asset Management LLP acquired a new position in shares of pSivida Corp. (NASDAQ:PSDV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 69,004 shares of the company’s stock, valued at approximately $118,000. OxFORD Asset Management LLP owned approximately 0.18% of pSivida at the end of the most recent reporting period. 9.70% of the stock is owned by institutional investors and hedge funds.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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