Shares of pSivida Corp. (NASDAQ:PSDV) have earned an average rating of “Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $7.67.
Several research analysts have recently issued reports on the company. HC Wainwright set a $5.00 price objective on pSivida and gave the company a “buy” rating in a research note on Thursday, February 8th. B. Riley set a $5.00 price objective on pSivida and gave the company 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 downgraded pSivida from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st.
pSivida (NASDAQ PSDV) opened at $1.20 on Tuesday. pSivida has a 52 week low of $0.93 and a 52 week high of $2.45. The stock has a market capitalization of $54.31, a P/E ratio of -2.03 and a beta of 1.27.
A number of large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its position in pSivida by 4.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,524,000 shares of the company’s stock valued at $1,646,000 after purchasing an additional 59,900 shares during the period. Geode Capital Management LLC increased its position in pSivida by 75.0% during the 4th quarter. Geode Capital Management LLC now owns 240,631 shares of the company’s stock valued at $259,000 after purchasing an additional 103,150 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new stake in pSivida during the 4th quarter valued at approximately $173,000. 10.69% of the stock is owned by institutional investors and hedge funds.
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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