DURECT Corp (DRRX) Tops Q1 EPS by 2c
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Durect (DRRX) PT Lifted to $3 at Cantor Fitzgerald on Solid Q1 and Multiple Catalysts
May 1, 2015 7:23 AM EDTCantor Fitzgerald analyst Irina Rivkind Koffler reiterated a Buy rating and bumped her price target on Durect Corp (NASDAQ: DRRX) to $3.00 (from $2.50) following solid Q1 results and multiple catalysts ahead.
Koffler commented, "Durect reported revenues of $4.8M and a net loss of ($0.04) relative to FactSet consensus of $4.8M and ($0.06). We have added cash from two potential Relday-associated milestones to our 2016 and 2017 collaborative R&D revenue estimates (we estimate $4.8M each based on management comments), while conservatively excluding what we believe is a... More
