BidaskClub Downgrades Durect (DRRX) to Buy
Durect (NASDAQ:DRRX) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.
A number of other research firms have also recently commented on DRRX. ValuEngine raised Durect from a “sell” rating to a “hold” rating in a report on Wednesday, March 7th. HC Wainwright raised Durect from a “neutral” rating to a “buy” rating and raised their price target for the company from $1.50 to $3.50 in a report on Tuesday, March 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $2.83.
NASDAQ DRRX opened at $2.11 on Friday. The company has a current ratio of 2.87, a quick ratio of 2.67 and a debt-to-equity ratio of 0.59. Durect has a fifty-two week low of $0.74 and a fifty-two week high of $2.55.
A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its holdings in Durect by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 120,977 shares of the specialty pharmaceutical company’s stock valued at $189,000 after acquiring an additional 13,072 shares during the period. Wells Fargo & Company MN raised its holdings in Durect by 12.7% during the fourth quarter. Wells Fargo & Company MN now owns 472,248 shares of the specialty pharmaceutical company’s stock valued at $435,000 after acquiring an additional 53,236 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Durect by 61.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 263,476 shares of the specialty pharmaceutical company’s stock valued at $467,000 after acquiring an additional 100,200 shares during the period. Algert Global LLC bought a new stake in Durect during the fourth quarter valued at about $105,000. Finally, SG Americas Securities LLC increased its holdings in shares of Durect by 1,095.1% in the fourth quarter. SG Americas Securities LLC now owns 188,328 shares of the specialty pharmaceutical company’s stock worth $174,000 after purchasing an additional 172,570 shares during the last quarter. 42.89% of the stock is currently owned by institutional investors and hedge funds.
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Durect Company Profile
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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