In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Durect Corp (DRRX), with a price target of $3. The company’s shares opened today at $0.55, close to its 52-week low of $0.46.
Arce observed:
“DURECT Accelerates DUR-928 NASH Safety/PK data in 2H19. Earlier today, DURECT provided several updates on its clinical development of DUR-928, the company’s epigenetic regulator candidate. Of note, an open-label Phase 1b safety/PK study focusing on several NASH-related biomarkers will begin enrollment in 1Q19 (previously 1H19), with an initial data readout in 2H19. DURECT also announced that it will transition the ongoing DUR-928 alcoholic hepatitis (AH) Phase 2a trial to Dr. of Louisville. Two patients have been treated with 30mg I.V. DUR-928 since the trial’s Part B (for severe AH patients) began in November 2018, and Dr. McClain will spearhead this trial under an awarded NIH grant after Part B’s completion.”
According to TipRanks.com, Arce is a 4-star analyst with an average return of 6.9% and a 36.1% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Melinta Therapeutics Inc, and Collegium Pharmaceutical.
Durect Corp has an analyst consensus of Moderate Buy, with a price target consensus of $3.
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Based on Durect Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $2.72 million. In comparison, last year the company had a net profit of $8.24 million.
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DURECT Corp. is a biopharmaceutical company, which engages in the research, development, and manufacturing of pharmaceutical products. Its product pipeline consists of multiple investigational drug candidates in clinical development.
