After Chardan Capital and H.C. Wainwright gave Durect (NASDAQ: DRRX) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Francois Brisebois reiterated a Buy rating on Durect yesterday and set a price target of $7.00. The company’s shares closed last Monday at $1.93.
According to TipRanks.com, Brisebois is a 3-star analyst with an average return of 8.2% and a 51.6% success rate. Brisebois covers the Healthcare sector, focusing on stocks such as Avadel Pharmaceuticals, Kala Pharmaceuticals, and Flexion Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Durect with a $6.40 average price target, which is a 233.3% upside from current levels. In a report issued on November 23, H.C. Wainwright also maintained a Buy rating on the stock with a $6.00 price target.
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Durect’s market cap is currently $390.1M and has a P/E ratio of -30.30. The company has a Price to Book ratio of 13.07.
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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.
