pSivida Corp. (NASDAQ:PSDV) received a $5.00 price objective from analysts at HC Wainwright in a research note issued to investors on Tuesday, July 11th. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 313.22% from the company’s current price.
A number of other analysts also recently issued reports on the stock. Ladenburg Thalmann Financial Services set a $13.00 target price on shares of pSivida Corp. and gave the stock a “buy” rating in a research report on Wednesday, June 14th. Northland Securities set a $10.00 target price on shares of pSivida Corp. and gave the stock a “buy” rating in a research report on Wednesday, June 14th. FBR & Co reissued a “buy” rating on shares of pSivida Corp. in a research report on Wednesday, June 14th. Finally, Rodman & Renshaw assumed coverage on shares of pSivida Corp. in a research report on Tuesday, May 30th. They set a “buy” rating and a $8.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, pSivida Corp. presently has an average rating of “Buy” and an average price target of $8.60.
Shares of pSivida Corp. (PSDV) traded up 4.31% on Tuesday, reaching $1.21. 691,348 shares of the company’s stock traded hands. The stock’s market capitalization is $47.51 million. The stock’s 50-day moving average price is $1.53 and its 200-day moving average price is $1.76. pSivida Corp. has a 52 week low of $1.10 and a 52 week high of $4.25.
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In related news, insider Nancy Lurker purchased 56,700 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was purchased at an average price of $1.76 per share, for a total transaction of $99,792.00. Following the acquisition, the insider now directly owns 56,700 shares in the company, valued at $99,792. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.59% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in pSivida Corp. stock. Renaissance Technologies LLC boosted its position in pSivida Corp. (NASDAQ:PSDV) by 34.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 907,000 shares of the company’s stock after buying an additional 229,900 shares during the period. Renaissance Technologies LLC owned approximately 2.65% of pSivida Corp. worth $1,551,000 at the end of the most recent reporting period. 20.13% of the stock is owned by hedge funds and other institutional investors.
pSivida Corp. Company Profile
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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