In today’s recent session, 2,249,299 shares of the DURECT Corporation(NASDAQ:DRRX) have been traded, and its beta is 1.58. Most recently the company’s share price was $2.64, and it changed around $0.1 or 0.04% from the last close, which brings the market valuation of the company to $583.42 Million. DRRX at last check was trading at a discount to its 52-week high of $2.96, offering almost -12.12% off that amount. The share price’s 52-week low was $0.95, which indicates that the recent value has risen by an impressive 64.02% since then. We note from DURECT Corporation’s average daily trading volume that its 10-day average is 4.93 Million shares, with the 3-month average coming to 1.93 Million.
DURECT Corporation stock received a consensus recommendation rating of Buy, based on a mean score of 1.8. If we narrow it down even further, the data shows that none out of 6 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended DRRX as a Hold, whereas 6 deemed it a Buy, and no one rated it as Underweight. DURECT Corporation is expected to report earnings per share of -$0.03 for the current quarter.
DURECT Corporation (NASDAQ:DRRX): Trading Information Today
Instantly DRRX has been showing a green trend so far today with a performance of 4.13% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $2.85- on Tuesday, Feb 16 increased the stock’s daily price by 7.48%. The company’s shares are currently up 0.27% year-to-date, but still up 0.0135 over the last five days. On the other hand, DURECT Corporation (NASDAQ:DRRX) is 0.17% up in the 30-day period. We can see from the shorts that 8.15 Million shares have been sold at a short interest cover period of 4.22 day(s).
The consensus price target as assigned by Wall Street analysts is $6.67, which translates to bears needing to increase their stock price by 152.65% from its current value. Analyst projections state that DRRX is forecast to be at a low of $5 and a high of $8. In order for the stock price to hit the forecast high, the stock would need to surge +203.03% from its current level, while the stock would need to crash 89.39% from its current level to reach the projected low.
DURECT Corporation (DRRX) projections and forecasts
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $6.57 Million in revenue for the current quarter. 5 analysts expect DURECT Corporation to make $2.91 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $10.69 Million and $2.77 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -38.5%. Forecasts for the next quarter put sales growth at 4.9%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 10.2%. DURECT Corporation earnings are expected to increase by 27% in 2021, but the outlook is positive 15% per year for the next five years.
DURECT Corporation (NASDAQ:DRRX)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 1.59% of DURECT Corporation shares, and 55.03% of them are in the hands of institutional investors. The stock currently has a share float of 55.92%. DURECT Corporation stock is held by 153 institutions, with Bleichroeder LP being the largest institutional investor. By Dec 30, 2020, it held 13% of the shares, which is about 26.41 Million shares worth $54.68 Million.
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Lion Point Capital, LP, with 8.73% or 17.73 Million shares worth $30.32 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.