pSivida (NASDAQ:PSDV) Price Target & New Coverage by Laidlaw

Analysts at Laidlaw has started coverage on Psivida (NASDAQ:PSDV) with Buy rating. The PT for PSDV is set to $5.0. It suggests a potential upside of 327.35 % from company’s previous close.

After the new initiation NASDAQ:PSDV is now trading -7.94% lower at $1.16 as of 10:14 PM New York time. pSivida’s stock is 0% over the past 200 days. It has underperformed the Standard & Poor’s 500 index, which has surged 6.00% over the same time period.

Institutional Ownership

North Run Capital Lp had the largest stake with ownership of 1.67M shares as of Q2 2015 for 0.79% of the portfolio. Perceptive Advisors Llc is another bullish investment professional who is possessing 2.55M shares of pSivida or 0.5% of their portfolio. Moreover, Deerfield Management Co have 0.21% of their portfolio invested in the company for 1.49M shares. The New York-based fund Lombard Odier Asset Management (Usa) Corp revealed it had bought so far a stake worth about 0.17% of the investment professional’s stock portfolio in pSivida. The Illinois-based fund Bard Associates Inc is also positive about the stock, possessing 615,596 shares or 0.15% of their portfolio.

pSivida (NASDAQ:PSDV) 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.

pSivida (NASDAQ:PSDV) traded down -7.94% on 8 November, hitting $1.16. A total of shares of the company’s stock traded hands. This is down from average of 805,243 shares. pSivida has a 52 week low of $1.03 and a 52 week high of $2.45. The company has a market cap of $52.39M and a P/E ratio of 0.

Get the latest pSivida (NASDAQ:PSDV) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Why Laidlaw Initiated Coverage On pSivida (NASDAQ:PSDV) Stock With Buy Rating appeared first on Octafinance.