FBR Capital Reiterates Outperform on pSivida (PSDV) After Meeting with Management

FBR Capital reiterated an Outperform rating and $7.00 price target on pSivida Corp. (NASDAQ: PSDV) after meeting with management. While the primary focus remains completing D3YPSU Phase III development and regulatory filings in the U.S. and EU in 2017, the preclinical programs were reprioritized to realize lower R&D risk and increase near-term opportunities.

Analyst Vernon Bernardino commented, "We recently conducted our first one-on-one meeting with Nancy Lurker, who led her first quarterly results conference call as the new president and CEO of pSivida on November 7. The change in leadership occurs at a critical time as the company continues to move forward with potential submissions of U.S. and EU marketing approval applications with pSivida’s Durasert three-year treatment for posterior segment uveitis (formerly named Medidur, which we will refer to below as D3YPSU). As she is a seasoned healthcare executive with a track record of building a highperforming contract sales business, launching numerous pharmaceutical products, and repositioning a company for higher growth, we believe Ms. Lurker can bring high energy leadership and usher D3YPSU and pSivida’s other assets to their next stage of development and success. We reiterate our Outperform rating."

For an analyst ratings summary and ratings history on pSivida Corp. click here. For more ratings news on pSivida Corp. click here.

Shares of pSivida Corp. closed at $1.81 yesterday.

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