Stock Update (NASDAQ:PSDV): ILUVIEN® Receives Marketing Authorization in Two More EU Countries

(BUSINESS WIRE)– pSivida Corp. (NASDAQ:PSDV)(ASX:PVA), a leader in the development of sustained release drug delivery products for treating eye diseases, today announced that Finland and Luxembourg have granted marketing authorization to ILUVIEN® for the treatment of vision impairment associated with chronic diabetic macular edema (DME) considered insufficiently responsive to available therapies. This brings the total number of EU countries in which ILUVIEN has been approved to 15, with two EU approvals still pending… Read more »

Shares of pSivida Corp opened today at $4.1 and are currently trading down at $4.08. PSDV has a 1-year high of $5.09 and a 1-year low of $3.26. The stock’s 50-day moving average is $4.14 and it’s 200-day moving average is $4.22.

On the ratings front, pSivida Corp has been the subject of a number of recent research reports. In a report issued on January 20, MLV & Co. analyst Arlinda Lee reiterated a Buy rating on PSDV, with a price target of $6.50, which implies an upside of 58.5% from current levels. Separately, on September 29, Northland Securities` Suraj Kalia reiterated a Buy rating on the stock and has a price target of $10.

pSivida Corp develops tiny, sustained-release, drug delivery products designed to deliver drugs at a controlled and steady rate for months or years.

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