BidaskClub Lowers DURECT (DRRX) to Hold

DURECT (NASDAQ:DRRX) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other analysts have also issued reports on DRRX. HC Wainwright upgraded shares of DURECT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $1.50 to $3.50 in a research report on Tuesday, March 6th. ValuEngine raised shares of DURECT from a “sell” rating to a “hold” rating in a report on Wednesday, March 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $2.83.

Shares of DURECT opened at $1.95 on Thursday, according to MarketBeat. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.61 and a quick ratio of 4.32. The company has a market cap of $320.18 million, a P/E ratio of -65.00 and a beta of 1.15. DURECT has a 12-month low of $0.75 and a 12-month high of $2.55.

DURECT (NASDAQ:DRRX) last announced its earnings results on Wednesday, May 2nd. The specialty pharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of $3.49 million during the quarter, compared to analyst estimates of $4.20 million. DURECT had a negative net margin of 8.06% and a negative return on equity of 25.82%. equities research analysts anticipate that DURECT will post -0.23 EPS for the current year.

Large investors have recently modified their holdings of the business. Jane Street Group LLC lifted its holdings in DURECT by 235.1% during the first quarter. Jane Street Group LLC now owns 48,827 shares of the specialty pharmaceutical company’s stock valued at $104,000 after purchasing an additional 34,255 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in DURECT during the first quarter valued at approximately $131,000. MetLife Investment Advisors LLC purchased a new position in DURECT during the first quarter valued at approximately $158,000. Engineers Gate Manager LP purchased a new position in DURECT during the first quarter valued at approximately $218,000. Finally, Mackay Shields LLC purchased a new position in DURECT during the first quarter valued at approximately $367,000. 44.40% of the stock is currently 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 drug delivery 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 use as raw materials in their products for pharmaceutical and medical devices under the LACTEL brand.

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