MLV Reiterates Buy On pSivida Following Meeting With Management
In a research report issued today, MLV analyst Arlinda Lee reiterated a Buy rating on pSivida Corp (NASDAQ:PSDV) with a $6.50 price target, which represents a potential upside of 60% from where the stock is currently trading.
Lee noted, “We recently met with PSDV management, who is upbeat about Iluvien’s US launch expected in 1Q15. Enrollment in the Phase 3 trial for Medidur for posterior uveitis remains on track to be completed in 1H15. PSDV plans to meet with FDA in March to discuss the possibility of conducting a single Phase 3 trial. With the launch of Iluvien well underway, we expect the Company to initiate Phase 2 trials of Iluvien for Dry AMD in 2015.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Arlinda Lee has a total average return of 9.2% and a 55.0% success rate. Lee has a 15.3% average return when recommending PSDV, and is ranked #1017 out of 3428 analysts.