Brokerages Anticipate pSivida Corp. (PSDV) Will Announce Quarterly Sales of $480,000.00

Analysts forecast that pSivida Corp. (NASDAQ:PSDV) will post sales of $480,000.00 for the current quarter, Zacks reports. Three analysts have issued estimates for pSivida’s earnings. The highest sales estimate is $590,000.00 and the lowest is $400,000.00. pSivida posted sales of $5.97 million during the same quarter last year, which suggests a negative year-over-year growth rate of 92%. The business is expected to report its next quarterly earnings report on Tuesday, February 6th.

According to Zacks, analysts expect that pSivida will report full-year sales of $480,000.00 for the current financial year, with estimates ranging from $1.71 million to $2.09 million. For the next financial year, analysts anticipate that the business will post sales of $3.73 million per share, with estimates ranging from $2.80 million to $4.67 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover pSivida.

pSivida (NASDAQ:PSDV) last posted its quarterly earnings data on Tuesday, November 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.15). pSivida had a negative return on equity of 139.56% and a negative net margin of 226.31%. The company had revenue of $0.39 million during the quarter, compared to analysts’ expectations of $0.74 million.

A number of brokerages have weighed in on PSDV. HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of pSivida in a research report on Tuesday, January 9th. B. Riley set a $5.00 target price on pSivida and gave the company a “buy” rating in a research report on Friday, December 15th. ValuEngine lowered pSivida from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. Laidlaw began coverage on pSivida in a research report on Wednesday, November 8th. They set a “buy” rating and a $5.00 target price for the company. Finally, Northland Securities reaffirmed a “buy” rating and set a $10.00 target price on shares of pSivida in a research report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $7.57.

pSivida (PSDV) traded up $0.03 on Friday, reaching $1.14. The company had a trading volume of 606,561 shares, compared to its average volume of 327,850. pSivida has a one year low of $1.02 and a one 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 pSivida Corp. (NASDAQ:PSDV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 quarter. 9.70% of the stock is currently owned by institutional investors.

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About pSivida

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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