Exclusive: Time to Buy pSivida Corp. After Touching 52 Week Low?

Exclusive: Time to Buy pSivida Corp. After Touching 52 Week Low?

The stock of pSivida Corp. (NASDAQ:PSDV) hit a new 52-week low and has $1.67 target or 13.00% below today’s $1.92 share price. The 9 months bearish chart indicates high risk for the $64.69M company. The 1-year low was reported on Nov, 1 by Barchart.com. If the $1.67 price target is reached, the company will be worth $8.41 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 852,403 shares traded hands or 580.18% up from the average. pSivida Corp. (NASDAQ:PSDV) has declined 21.21% since March 30, 2016 and is downtrending. It has underperformed by 24.23% the S&P500.

According to Zacks Investment Research, “pSivida Corp., a specialty pharmaceutical company, combines existing drugs with its sustained release delivery technologies to develop transformational products primarily in ophthalmology. pSivida’s two proprietary technology systems are Durasert and Tethadur. Durasert delivers specific quantities of drugs at controlled rates for predetermined periods of time from weeks to months. pSivida has developed three of the four sustained delivery release devices for retinal diseases that have been approved in either the US or Europe, the most recent being ILUVIEN®, partnered with Alimera Sciences and approved in multiple EU countries. Independently, pSivida is developing an injectable, bioerodible product to treat glaucoma and ocular hypertension. Tethadur is a protein, peptide and antibody delivery system.”

Insitutional Activity: The institutional sentiment decreased to 0.73 in Q2 2016. Its down 0.08, from 0.81 in 2016Q1. The ratio fall, as 6 funds sold all pSivida Corp. shares owned while 9 reduced positions. 4 funds bought stakes while 7 increased positions. They now own 10.25 million shares or 3.57% less from 10.63 million shares in 2016Q1.
Bridgeway Mngmt last reported 205,400 shares in the company. Matrix Asset Inc Ny has 30,500 shares for 0.02% of their US portfolio. Group One Trading Limited Partnership last reported 0% of its portfolio in the stock. Lombard Odier Asset (Usa) Corporation reported 615,596 shares or 0.21% of all its holdings. Private Advisor Gru Limited Liability Corporation last reported 22,700 shares in the company. Condor Cap Management has 27,135 shares for 0.02% of their US portfolio. The Illinois-based Northern Corp has invested 0% in pSivida Corp. (NASDAQ:PSDV). The Switzerland-based Credit Suisse Ag has invested 0% in pSivida Corp. (NASDAQ:PSDV). Bank Of New York Mellon Corporation last reported 57,637 shares in the company. Vanguard Gp last reported 953,744 shares in the company. Deerfield Communication has invested 0.17% of its portfolio in pSivida Corp. (NASDAQ:PSDV). Wells Fargo Company Mn holds 0% of its portfolio in pSivida Corp. (NASDAQ:PSDV) for 1,000 shares. Goldman Sachs Group Inc accumulated 20,290 shares or 0% of the stock. Perceptive Advisors Lc has invested 0.52% of its portfolio in pSivida Corp. (NASDAQ:PSDV). Geode Cap Limited Liability Corp has invested 0% of its portfolio in pSivida Corp. (NASDAQ:PSDV).

More important recent pSivida Corp. (NASDAQ:PSDV) news were published by: Globenewswire.com which released: “Topline Results from First Phase 3 Trial of pSivida’s Medidurâ„¢ Presented at …” on August 15, 2016, also Quotes.Wsj.com published article titled: “News pSivida Corp.PSDV”, Globenewswire.com published: “pSivida Corp. Strengthens Board of Directors With Leading Ophthalmologist” on September 27, 2016. More interesting news about pSivida Corp. (NASDAQ:PSDV) was released by: Seekingalpha.com and their article: “PSivida: ~$4 Ocular Concern Is ‘Looking Good'” with publication date: September 10, 2016.

PSDV Company Profile

pSivida Corp., incorporated on March 20, 2008, develops drug delivery products primarily for the treatment of chronic eye diseases. The Firm operates through the biotechnology sector segment. The Firm 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. The Company’s product development program is focused primarily on utilizing its two core technology platforms, Durasert and Tethadur, to deliver drugs and biologics to treat chronic diseases.

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