DURECT (NASDAQ:DRRX) Receives New Coverage from Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of DURECT (NASDAQ:DRRX) in a research note issued to investors on Monday morning, Stock Target Advisor reports. The firm issued a buy rating and a $5.00 target price on the specialty pharmaceutical company’s stock.

Other analysts have also recently issued reports about the stock. BidaskClub upgraded shares of DURECT from a hold rating to a buy rating in a research note on Friday, October 18th. ValuEngine cut shares of DURECT from a buy rating to a hold rating in a research note on Wednesday, October 2nd. HC Wainwright set a $3.50 price objective on shares of DURECT and gave the stock a buy rating in a research note on Wednesday, September 18th. Finally, Stifel Nicolaus boosted their price objective on shares of DURECT from $1.50 to $2.10 and gave the stock a hold rating in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. DURECT presently has a consensus rating of Hold and a consensus target price of $3.53.

NASDAQ DRRX traded down $0.02 during trading on Monday, reaching $1.87. The company’s stock had a trading volume of 529,599 shares, compared to its average volume of 789,470. The company has a current ratio of 1.81, a quick ratio of 1.72 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $373.18 million, a PE ratio of -11.69 and a beta of 1.77. The business has a 50-day moving average price of $1.88 and a 200-day moving average price of $1.26. DURECT has a 1-year low of $0.46 and a 1-year high of $2.46.

DURECT (NASDAQ:DRRX) last issued its quarterly earnings data on Monday, November 4th. The specialty pharmaceutical company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.03). DURECT had a negative return on equity of 119.34% and a negative net margin of 105.07%. The firm had revenue of $10.76 million during the quarter, compared to analyst estimates of $7.78 million. As a group, analysts expect that DURECT will post -0.07 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC increased its holdings in DURECT by 36.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 25,955 shares of the specialty pharmaceutical company’s stock valued at $47,000 after buying an additional 7,000 shares during the period. Goelzer Investment Management Inc. acquired a new stake in shares of DURECT in the 2nd quarter valued at $26,000. Tower Research Capital LLC TRC boosted its stake in shares of 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 stake in shares of 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 acquired a new stake in shares of DURECT in the 2nd quarter valued at $172,000. 32.14% of the stock is currently owned by hedge funds and other institutional investors.

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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