Big changes are happening at DURECT Corporation (NASDAQ:DRRX), which makes the stock worth watching today. The company is among the top losers of the stock market today, sinking -3.18% or (-0.07 points) to $2.13 from its previous close of $2.2. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 259790 contracts so far this session. DRRX shares had a relatively better volume day versus average trading capacity of 795.26 thousand shares, but with a 0.19 billion float and a 12.82% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for DRRX stock indicates that the average analyst price target is $3.7 per share. This means the stock has a potential increase of 73.71% from where the DRRX share price has been trading recently which is between $2.13 and $2.24.
During the recent trading session for DURECT Corporation (NASDAQ:DRRX), the company witnessed their stock rise $0.18 over a week and surge $0.24 from the price 20 days ago. When compared to their established 52-week high of $2.46, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/23/19. The recent low of $0.46 stood for a -13.41% since 12/28/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.73 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for DURECT Corporation, the two-week RSI stands at 61.06. This figure suggests that DRRX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current DRRX readings is similarly very revealing as it has a stochastic reading of 89.03% at this stage. This figure means that DRRX share price today is being oversold.
Technical chart claims that DURECT Corporation (DRRX) would settle between $2.25/share to $2.3/share level. However, if the stock price goes below the $2.14 mark, then the market for DURECT Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $2.08 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.14. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Cantor Fitzgerald, assumed coverage of DRRX assigning Overweight rating, according to their opinion released on November 18. Cantor Fitzgerald, analysts launched coverage of DURECT Corporation (NASDAQ:DRRX) stock with a Overweight recommendation, according to their flash note issued to investors on September 06. Analysts at H.C. Wainwright released an upgrade from Neutral to Buy for the stock, in a research note that dated back to March 06.
DRRX equity has an average rating of 2.13, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated DURECT Corporation (NASDAQ:DRRX) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
DURECT Corporation (DRRX)’s current-quarter revenues are projected to climb by nearly 156.1% to hit $9.29 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 49.1% from $18.56 million to a noteworthy $27.68 million. At the other end of the current quarter income statement, DURECT Corporation is expected to see its adjusted earnings surge by roughly 60% to hit $-0.02 per share. For the fiscal year, DRRX’s earnings are projected to climb by roughly 31.2% to hit $-0.11 per share.