DURECT (NASDAQ:DRRX) Cut to “Hold” at BidaskClub

BidaskClub cut shares of DURECT (NASDAQ:DRRX) from a buy rating to a hold rating in a research report released on Wednesday, BidAskClub reports.

Several other research firms also recently weighed in on DRRX. Zacks Investment Research downgraded DURECT from a hold rating to a sell rating in a research report on Friday, December 18th. TheStreet downgraded DURECT from a c- rating to a d rating in a research report on Tuesday, November 3rd. ValuEngine raised DURECT from a hold rating to a buy rating in a research report on Tuesday, December 1st. Roth Capital assumed coverage on DURECT in a research report on Monday, October 12th. They set a buy rating and a $7.00 price target for the company. Finally, Chardan Capital reissued a buy rating and set a $7.00 price target on shares of DURECT in a research report on Thursday, November 26th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. DURECT presently has an average rating of Buy and an average price target of $5.67.

NASDAQ DRRX opened at $2.07 on Wednesday. DURECT has a 1-year low of $0.95 and a 1-year high of $3.95. The company has a market capitalization of $420.58 million, a P/E ratio of -41.39 and a beta of 1.76. The business has a 50 day moving average price of $1.96 and a 200 day moving average price of $1.98. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.95 and a quick ratio of 5.57.

DURECT (NASDAQ:DRRX) last released its quarterly earnings data on Saturday, November 7th. The specialty pharmaceutical company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $3.51 million. DURECT had a negative net margin of 21.85% and a negative return on equity of 33.98%. On average, research analysts expect that DURECT will post -0.06 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in DRRX. Rockefeller Capital Management L.P. acquired a new position in DURECT in the second quarter valued at $30,000. Federated Hermes Inc. acquired a new position in DURECT in the third quarter valued at $31,000. Great West Life Assurance Co. Can acquired a new position in DURECT in the second quarter valued at $34,000. Bank of Montreal Can acquired a new position in DURECT in the second quarter valued at $39,000. Finally, Sei Investments Co. acquired a new position in DURECT in the third quarter valued at $58,000. 54.90% of the stock is owned by institutional investors and hedge funds.

DURECT Company Profile

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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Analyst Recommendations for DURECT (NASDAQ:DRRX)

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