B.Riley FBR analyst Mayank Mamtani initiated coverage with a Buy rating on Durect (DRRX) today and set a price target of $5.00. The company’s shares closed last Monday at $1.94.
According to TipRanks.com, Mamtani is a 4-star analyst with an average return of 14.1% and a 42.5% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals, Spectrum Pharmaceuticals, and Madrigal Pharmaceuticals.
Currently, the analyst consensus on Durect is a Strong Buy with an average price target of $4.72, a 128.0% upside from current levels. In a report issued on January 22, Craig-Hallum also initiated coverage with a Buy rating on the stock with a $6.00 price target.
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Based on Durect’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $1.99 million. In comparison, last year the company had a GAAP net loss of $7.3 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.
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