DURECT Corporation (DRRX) PT Lowered to $2.00 at Laidlaw
DURECT Corporation (NASDAQ:DRRX) had its price objective decreased by equities research analysts at Laidlaw from $3.00 to $2.00 in a note issued to investors on Friday. The brokerage presently has a “buy” rating on the specialty pharmaceutical company’s stock. Laidlaw’s price target suggests a potential upside of 1.52% from the stock’s current price.
A number of other research analysts have also commented on the company. Stifel Nicolaus raised DURECT Corporation from a “hold” rating to a “buy” rating and raised their price target for the company from $1.25 to $3.00 in a report on Wednesday, July 12th. HC Wainwright reissued a “buy” rating and set a $3.00 price target on shares of DURECT Corporation in a report on Sunday, June 25th. Finally, ValuEngine raised DURECT Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th.
DURECT Corporation (NASDAQ:DRRX) opened at 1.97 on Friday. The stock’s market capitalization is $289.59 million. The company has a 50-day moving average of $1.78 and a 200-day moving average of $1.46. DURECT Corporation has a 52-week low of $0.74 and a 52-week high of $2.17.
DURECT Corporation (NASDAQ:DRRX) last issued its quarterly earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The business had revenue of $4.32 million for the quarter, compared to analyst estimates of $5.17 million. DURECT Corporation had a negative net margin of 221.01% and a negative return on equity of 629.35%. Equities research analysts expect that DURECT Corporation will post ($0.21) EPS for the current year.
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Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new position in shares of DURECT Corporation during the first quarter valued at $118,000. Gagnon Securities LLC increased its holdings in shares of DURECT Corporation by 35.9% during the second quarter. Gagnon Securities LLC now owns 1,283,954 shares of the specialty pharmaceutical company’s stock valued at $2,003,000 after purchasing an additional 338,881 shares during the period. Ironwood Investment Management LLC increased its holdings in shares of DURECT Corporation by 0.6% during the first quarter. Ironwood Investment Management LLC now owns 472,029 shares of the specialty pharmaceutical company’s stock valued at $496,000 after purchasing an additional 2,785 shares during the period. Mangrove Partners acquired a new position in shares of DURECT Corporation during the second quarter valued at $530,000. Finally, SG Americas Securities LLC acquired a new position in shares of DURECT Corporation during the first quarter valued at $147,000. 45.82% of the stock is currently owned by institutional investors.
About DURECT Corporation
Durect Corporation is a biopharmaceutical company with research and development programs. The Company’s products candidates include DUR-928, oral for metabolic/lipid disorders, and DUR-928, injectable for acute organ injuries. Its other product candidates include POSIMIR (controlled release injection of bupivacaine), REMOXY (oral controlled release oxycodone), ORADUR-ADHD, ELADUR (controlled release injection of bupivicane), Relday (risperidone), ORADUR-based opioid (hydromorphone) and SABER-based ophthalmic.
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