In a report issued on November 3, Mayank Mamtani from B.Riley Financial reiterated a Buy rating on Durect (DRRX), with a price target of $5.00. The company’s shares closed last Friday at $1.82.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 30.8% and a 53.1% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Madrigal Pharmaceuticals, and Spectrum Pharmaceuticals.
Currently, the analyst consensus on Durect is a Strong Buy with an average price target of $6.40, which is a 255.6% upside from current levels. In a report issued on October 30, Chardan Capital also initiated coverage with 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 September 30, the company reported a quarterly revenue of $2.68 million and GAAP net loss of $9.33 million. In comparison, last year the company earned revenue of $10.76 million and had a GAAP net loss of $1.99 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.
