pSivida Corp. (PSDV) Receives Average Rating of “Buy” from Analysts
pSivida Corp. (NASDAQ:PSDV) has been assigned a consensus rating of “Buy” from the seven analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $8.20.
A number of analysts recently commented on PSDV shares. ValuEngine lowered pSivida from a “sell” rating to a “strong sell” rating in a report on Friday. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of pSivida in a report on Wednesday, November 8th. Finally, Laidlaw started coverage on pSivida in a report on Wednesday, November 8th. They set a “buy” rating and a $5.00 price target on the stock.
pSivida (NASDAQ:PSDV) opened at $1.28 on Friday. pSivida has a 1 year low of $1.03 and a 1 year high of $2.45.
A hedge fund recently bought a new stake in pSivida stock. OxFORD Asset Management LLP purchased a new position in shares of pSivida Corp. (NASDAQ:PSDV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 69,004 shares of the company’s stock, valued at approximately $118,000. OxFORD Asset Management LLP owned 0.18% of pSivida at the end of the most recent quarter. 9.70% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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