Stifel Nicolaus Increases DURECT (NASDAQ:DRRX) Price Target to $2.10

DURECT (NASDAQ:DRRX) had its target price hoisted by Stifel Nicolaus from $1.50 to $2.10 in a report issued on Wednesday morning, BenzingaRatingsTable reports. Stifel Nicolaus currently has a hold rating on the specialty pharmaceutical company’s stock.

A number of other equities analysts have also issued reports on the company. Cantor Fitzgerald started coverage on DURECT in a report on Friday, September 6th. They set an overweight rating and a $5.00 price target on the stock. ValuEngine raised DURECT from a hold rating to a buy rating in a report on Tuesday, August 6th. Finally, HC Wainwright reissued a buy rating and set a $3.50 price target on shares of DURECT in a report on Tuesday, September 10th.

NASDAQ DRRX opened at $2.14 on Wednesday. The company has a quick ratio of 3.92, a current ratio of 4.26 and a debt-to-equity ratio of 1.09. DURECT has a 52-week low of $0.46 and a 52-week high of $2.19. The business’s 50-day moving average price is $1.56 and its 200 day moving average price is $0.90. The firm has a market cap of $410.75 million, a P/E ratio of -13.38 and a beta of 1.67.



DURECT (NASDAQ:DRRX) last released its quarterly earnings results on Thursday, August 1st. The specialty pharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. DURECT had a negative return on equity of 116.97% and a negative net margin of 123.22%. The firm had revenue of $3.99 million for the quarter, compared to analyst estimates of $4.05 million. As a group, analysts anticipate that DURECT will post -0.08 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DRRX. Goelzer Investment Management Inc. purchased a new position in shares of DURECT during the second quarter worth about $26,000. BNP Paribas Arbitrage SA boosted its holdings in DURECT by 1,420.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 42,545 shares of the specialty pharmaceutical company’s stock valued at $27,000 after purchasing an additional 39,746 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in DURECT by 51.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 60,829 shares of the specialty pharmaceutical company’s stock valued at $40,000 after purchasing an additional 20,764 shares in the last quarter. Morgan Stanley boosted its holdings in DURECT by 319.8% in the 2nd quarter. Morgan Stanley now owns 166,748 shares of the specialty pharmaceutical company’s stock valued at $109,000 after purchasing an additional 127,028 shares in the last quarter. Finally, Worth Venture Partners LLC purchased a new stake in DURECT in the 2nd quarter valued at approximately $172,000. 45.28% of the stock is currently owned by hedge funds and other institutional investors.

About DURECT

DURECT Corporation, a biopharmaceutical company, researches and develops medicines based on its epigenetic regulator and pharmaceutical programs. The company offers ALZET product line that consists of osmotic pumps and accessories used for experimental research in mice, rats, and other laboratory animals; and a range of biodegradable polymers for pharmaceutical and medical device clients for use as raw materials in their products under the LACTEL brand.

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