Zacks: Analysts Expect pSivida Corp. (PSDV) to Announce -$0.13 EPS

Wall Street analysts expect pSivida Corp. (NASDAQ:PSDV) to announce ($0.13) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have made estimates for pSivida’s earnings. The lowest EPS estimate is ($0.14) and the highest is ($0.12). pSivida reported earnings of ($0.15) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.3%. The company is expected to issue its next quarterly earnings report on Thursday, May 3rd.

On average, analysts expect that pSivida will report full-year earnings of ($0.54) per share for the current financial year, with EPS estimates ranging from ($0.56) to ($0.52). For the next financial year, analysts forecast that the business will post earnings of ($0.47) per share, with EPS estimates ranging from ($0.52) to ($0.41). Zacks’ earnings per share averages are an average based on a survey of analysts that cover pSivida.

pSivida (NASDAQ:PSDV) last announced its quarterly earnings data on Wednesday, February 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. The company had revenue of $0.93 million for the quarter, compared to analysts’ expectations of $0.48 million. pSivida had a negative net margin of 882.37% and a negative return on equity of 205.82%.

PSDV has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of pSivida in a research note on Wednesday, November 8th. Laidlaw initiated coverage on shares of pSivida in a research note on Wednesday, November 8th. They issued a “buy” rating and a $5.00 price objective on the stock. B. Riley set a $5.00 price objective on shares of pSivida and gave the stock a “buy” rating in a research note on Friday, December 15th. Northland Securities reaffirmed a “buy” rating and issued a $10.00 price objective on shares of pSivida in a research note on Monday, December 11th. Finally, ValuEngine cut shares of pSivida from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $7.57.

pSivida (NASDAQ PSDV) opened at $1.07 on Thursday. The stock has a market cap of $48.42, a P/E ratio of -1.81 and a beta of 1.26. pSivida has a 52 week low of $0.93 and a 52 week high of $2.45.

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in shares of pSivida by 4.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,524,000 shares of the company’s stock worth $1,646,000 after acquiring an additional 59,900 shares in the last quarter. OxFORD Asset Management LLP purchased a new position in shares of pSivida in the second quarter worth approximately $118,000. Geode Capital Management LLC increased its position in shares of pSivida by 75.0% in the fourth quarter. Geode Capital Management LLC now owns 240,631 shares of the company’s stock worth $259,000 after acquiring an additional 103,150 shares in the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in shares of pSivida in the fourth quarter worth approximately $173,000. 10.06% of the stock is currently owned by institutional investors and hedge funds.

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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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