In a research report sent to investors today, MLV analyst Arlinda Lee reiterated a Buy rating on pSivida Corp (NASDAQ:PSDV) with a $6.50 price target, following the company’s fiscal second-quarter results, posting EPS of $0.14, which was in line with MLV’s estimate of $0.12.
Lee noted, “As Iluvien will be launching early next month, the near-term investor focus is on launch metrics. Enrollment in the Phase 3 trial for Medidur for posterior uveitis remains on track to be completed in March 2015, and PSDV plans to meet with the FDA in March to discuss the possibility of conducting a single Phase 3 trial for approval.”
Shares of pSivida opened today at $3.95 and are currently trading up at $4.02. PSDV has a 1-year high of $4.94 and a 1-year low of $3.26. The stock’s 50-day moving average is $4.04 and it’s 200-day moving average is $4.19.
pSivida Corp. develops products to deliver drugs and biologics in the United States and the United Kingdom.