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pSivida (PSDV) Catches Eye: Stock Adds 8% in Session

pSivida Corp. ( PSDV ) was a big mover last session, as the company saw its shares rise almost 8% on the day. Shares gained after the company announced its plans to file a New Drug Application for Medidur for posterior uveitis based on six-month efficacy data for both Phase III trials. The FDA has advised pSivida that this data will be acceptable for review by the agency. This led to solid volume too with far more shares changing hands than in a normal session. Yesterday's rally breaks the recent trend of the company, as the stock is now trading above the volatile price range of $3.51 to $3.75 since Sep 21, 2015.

In the last 30 days, the company witnessed one negative estimate revision and the Zacks Consensus Estimate also moved lower over the same time frame, signaling trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday's move higher can last.

pSivida currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.

A better-ranked stock in the Med-Biomed/Gene industry is Affymetrix Inc. ( AFFX ), which carries a Zacks Rank #2 (Buy).

Is PSDV going up? Or down? Predict to see what others think: Up or Down

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PSIVIDA CORP (PSDV): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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