DURECT Corporation [NASDAQ: DRRX] jumped around 0.18 points on Thursday, while shares priced at $2.67 at the close of the session, up 7.23%. The company report on February 4, 2021 that DURECT Corporation Announces Pricing of $42.5 Million Public Offering of Common Stock.
DURECT Corporation (Nasdaq: DRRX) (“DURECT”), 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, announced the pricing of its underwritten public offering of 17,708,333 shares of its common stock (the “Offering”) for gross proceeds of approximately $42,500,000, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by DURECT. The offering is expected to close on or about February 8, 2021, subject to customary closing conditions. In addition, DURECT has granted the underwriter for the Offering a 30-day option to purchase up to an additional 2,656,249 shares of its common stock.
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Cantor Fitzgerald & Co. is acting as the sole book running manager for the Offering.
DURECT Corporation stock is now 28.99% up from its year-to-date (YTD) trading value. DRRX Stock saw the intraday high of $2.80 and lowest of $2.52 per share. The company’s 52-week high price is 2.96, which means current price is +32.18% above from all time high which was touched on 02/03/21.
Compared to the average trading volume of 1.46M shares, DRRX reached a trading volume of 7269372 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about DURECT Corporation [DRRX]?
Chardan Capital Markets have made an estimate for DURECT Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 30, 2020. The new note on the price target was released on October 12, 2020, representing the official price target for DURECT Corporation stock. Previously, the target price had yet another raise to $7, while Oppenheimer analysts kept a Outperform rating on DRRX stock.
The Average True Range (ATR) for DURECT Corporation is set at 0.22, with the Price to Sales ratio for DRRX stock in the period of the last 12 months amounting to 12.76. The Price to Book ratio for the last quarter was 15.71, with the Price to Cash per share for the same quarter was set at 0.24.
How has DRRX stock performed recently?
DURECT Corporation [DRRX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.33. With this latest performance, DRRX shares gained by 25.94% in over the last four-week period, additionally plugging by 15.58% over the last 6 months – not to mention a rise of 29.61% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DRRX stock in for the last two-week period is set at 61.21, with the RSI for the last a single of trading hit 62.31, and the three-weeks RSI is set at 60.43 for DURECT Corporation [DRRX]. The present Moving Average for the last 50 days of trading for this stock 2.18, while it was recorded at 2.55 for the last single week of trading, and 2.09 for the last 200 days.
DURECT Corporation [DRRX]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and DURECT Corporation [DRRX] shares currently have an operating margin of -64.78 and a Gross Margin at +85.99. DURECT Corporation’s Net Margin is presently recorded at -69.60.
Return on Total Capital for DRRX is now -42.46, given the latest momentum, and Return on Invested Capital for the company is -46.68. Return on Equity for this stock declined to -96.02, with Return on Assets sitting at -30.26. When it comes to the capital structure of this company, DURECT Corporation [DRRX] has a Total Debt to Total Equity ratio set at 117.33. Additionally, DRRX Total Debt to Total Capital is recorded at 53.99, with Total Debt to Total Assets ending up at 31.18. Long-Term Debt to Equity for the company is recorded at 108.39, with the Long-Term Debt to Total Capital now at 49.88.
Reflecting on the efficiency of the workforce at the company, DURECT Corporation [DRRX] managed to generate an average of -$228,644 per employee. Receivables Turnover for the company is 14.53 with a Total Asset Turnover recorded at a value of 0.43.DURECT Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.60 and a Current Ratio set at 6.00.
Earnings analysis for DURECT Corporation [DRRX]
With the latest financial reports released by the company, DURECT Corporation posted -0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.02/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DRRX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for DURECT Corporation go to 15.00%.
Insider trade positions for DURECT Corporation [DRRX]
There are presently around $300 million, or 55.00% of DRRX stock, in the hands of institutional investors. The top three institutional holders of DRRX stocks are: BLEICHROEDER LP with ownership of 26,414,656, which is approximately 0% of the company’s market cap and around 1.59% of the total institutional ownership; LION POINT CAPITAL, LP, holding 17,730,680 shares of the stock with an approximate value of $47.34 million in DRRX stocks shares; and BLACKROCK INC., currently with $37.81 million in DRRX stock with ownership of nearly 0.739% of the company’s market capitalization.
Positions in DURECT Corporation stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 41 institutional holders increased their position in DURECT Corporation [NASDAQ:DRRX] by around 5,010,771 shares. Additionally, 54 investors decreased positions by around 5,794,247 shares, while 29 investors held positions by with 101,404,119 shares. The mentioned changes placed institutional holdings at 112,209,137 shares, according to the latest SEC report filing. DRRX stock had 11 new institutional investments in for a total of 3,487,129 shares, while 16 institutional investors sold positions of 1,206,117 shares during the same period.