JonesTrading Initiates Coverage of DURECT (DRRX) with Buy Recommendation

On March 14, 2023, JonesTrading initiated coverage of DURECT with a Buy recommendation.

Analyst Price Forecast Suggests 660.43% Upside

As of March 14, 2023, the average one-year price target for DURECT is $35.36. The forecasts range from a low of $32.32 to a high of $38.85. The average price target represents an increase of 660.43% from its latest reported closing price of $4.65.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for DURECT is $22MM, an increase of 13.57%. The projected annual non-GAAP EPS is -$1.85.

What are Large Shareholders Doing?

DRRX / DURECT Corporation Shares Held by Institutions

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,635K shares representing 27.10% ownership of the company. In it's prior filing, the firm reported owning 6,409K shares, representing an increase of 3.40%. The firm increased its portfolio allocation in DRRX by 30.52% over the last quarter.

VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 3,191K shares representing 13.03% ownership of the company. No change in the last quarter.

FSMAX - Fidelity Extended Market Index Fund holds 1,190K shares representing 4.86% ownership of the company. In it's prior filing, the firm reported owning 1,191K shares, representing a decrease of 0.16%. The firm decreased its portfolio allocation in DRRX by 42.16% over the last quarter.

FSKAX - Fidelity Total Market Index Fund holds 316K shares representing 1.29% ownership of the company. No change in the last quarter.

Jefferies Group holds 276K shares representing 1.13% ownership of the company. No change in the last quarter.

What is the Fund Sentiment?

There are 23 funds or institutions reporting positions in DURECT. This is a decrease of 97 owner(s) or 80.83% in the last quarter. Average portfolio weight of all funds dedicated to DRRX is 0.01%, a decrease of 87.21%. Total shares owned by institutions decreased in the last three months by 99.41% to 572K shares. The put/call ratio of DRRX is 0.23, indicating a bullish outlook.

Durect Background Information
(This description is provided by the company.)

DURECT is a biopharmaceutical company committed to transforming the treatment of acute organ injury and chronic liver diseases by advancing novel and potentially lifesaving therapies based on its endogenous epigenetic regulator program. DUR-928, the company's lead drug candidate is in clinical development for the potential treatment of alcohol-associated hepatitis (AH) for which FDA has granted a Fast Track Designation, COVID-19 patients with acute liver or kidney injury, and non-alcoholic steatohepatitis (NASH). DURECT's proprietary drug delivery technologies are designed to enable new indications and enhanced attributes for small-molecule and biologic drugs. One late-stage product candidate in this category is POSIMIR® (bupivacaine sustained-release solution), an investigational locally-acting, non-opioid analgesic intended to provide up to three days of continuous pain relief after surgery.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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