pSivida Receives a Buy from H.C. Wainwright

By Carrie Williams

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on pSivida (NASDAQ: PSDV), with a price target of $8. The company’s shares closed last Friday at $2.22.

According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -7.5% and a 34.7% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as RegeneRx Biopharmaceuticals Inc, Biospecifics Technologies Corp, and Stemline Therapeutics Inc.

Currently, the analyst consensus on pSivida is Moderate Buy and the average price target is $7.50, representing a 237.8% upside.

In a report issued on May 15, FBR Capital also reiterated a Buy rating on the stock with a $7 price target.

The company has a one year high of $4.25 and a one year low of $1.50. Currently, pSivida has an average volume of 382.2K.

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pSivida Corp. develops tiny, sustained-release products, which are designed to deliver drugs and biologics at a controlled and steady rate for weeks, months or years. The company through its technology platforms Duraser and Tethadur is focused on treatment of chronic diseases of the back of the eye and are also exploring applications outside ophthalmology. It is also developing a bioerodible, injectable micro-insert delivering latanoprost to treat glaucoma and ocular hypertension. pSivida was founded by Roger Aston in March 2008 and is headquartered in Waterson, MA.