pSivida Corp. (PSDV) Expected to Post Quarterly Sales of $740,000.00

Wall Street brokerages predict that pSivida Corp. (NASDAQ:PSDV) will post $740,000.00 in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for pSivida Corp.’s earnings. The lowest sales estimate is $550,000.00 and the highest is $920,000.00. pSivida Corp. posted sales of $280,000.00 in the same quarter last year, which would indicate a positive year over year growth rate of 164.3%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, November 7th.

According to Zacks, analysts expect that pSivida Corp. will report full-year sales of $740,000.00 for the current year, with estimates ranging from $2.30 million to $4.26 million. For the next year, analysts forecast that the company will post sales of $0.00 per share. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for pSivida Corp..

pSivida Corp. (NASDAQ:PSDV) last announced its quarterly earnings data on Monday, September 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.16). The business had revenue of $0.70 million for the quarter, compared to analysts’ expectations of $0.48 million. pSivida Corp. had a negative net margin of 245.19% and a negative return on equity of 134.34%.

Separately, HC Wainwright set a $5.00 price objective on shares of pSivida Corp. and gave the company a “buy” rating in a research note on Tuesday, July 11th. Five investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $8.60.

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Shares of pSivida Corp. (PSDV) traded up $0.04 during trading hours on Thursday, reaching $1.23. 659,799 shares of the company were exchanged, compared to its average volume of 821,635. pSivida Corp. has a fifty-two week low of $1.03 and a fifty-two week high of $2.45.

An institutional investor recently raised its position in pSivida Corp. stock. Renaissance Technologies LLC grew its stake in shares of pSivida Corp. (NASDAQ:PSDV) by 6.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 963,043 shares of the company’s stock after buying an additional 56,043 shares during the quarter. Renaissance Technologies LLC owned approximately 2.82% of pSivida Corp. worth $1,656,000 as of its most recent SEC filing. Institutional investors own 14.94% of the company’s stock.

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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