Chardan Capital analyst Michael Morabito maintained a Buy rating on Durect (DRRX) today and set a price target of $7.00. The company’s shares closed last Monday at $1.77.
According to TipRanks.com, Morabito ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -16.0% and a 29.6% success rate. Morabito covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, NGM Biopharmaceuticals, and Viking Therapeutics.
Currently, the analyst consensus on Durect is a Strong Buy with an average price target of $6.17, which is a 242.8% upside from current levels. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $7.00 price target.
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Based on Durect’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $25.84 million and net profit of $14.34 million. In comparison, last year the company earned revenue of $3.99 million and had a GAAP net loss of $7.23 million.
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DURECT Corp. is a biopharmaceutical company, which engages in the research, development, and manufacturing of pharmaceutical products. The company products include alzet and lactel. Its pipeline includes DUR-928, which focuses on lipid homeostasis, inflammation, and cell survival; and POSIMIR, which is an analgesic product intended to deliver bupivacaine to provide pain relief after surgery. The company was founded by James E. Brown and Felix Theeuwes on February 6, 1998 and is headquartered in Cupertino, CA.
