DURECT Corporation (NASDAQ:DRRX)‘s stock had its “hold” rating reaffirmed by research analysts at HC Wainwright in a note issued to investors on Thursday.
A number of other brokerages have also recently commented on DRRX. Stifel Nicolaus cut DURECT Corporation from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. ValuEngine upgraded DURECT Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Laidlaw lowered their target price on DURECT Corporation from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Friday, October 20th.
Shares of DURECT Corporation (NASDAQ:DRRX) traded up $0.08 on Thursday, hitting $0.95. The stock had a trading volume of 2,062,299 shares, compared to its average volume of 1,459,119. DURECT Corporation has a one year low of $0.74 and a one year high of $2.17. The company has a debt-to-equity ratio of -9.08, a current ratio of 1.53 and a quick ratio of 1.39.
DURECT Corporation (NASDAQ:DRRX) last announced its quarterly earnings results on Wednesday, November 1st. The specialty pharmaceutical company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.09. DURECT Corporation had a negative return on equity of 638.84% and a negative net margin of 62.57%. The company had revenue of $20.75 million during the quarter, compared to analysts’ expectations of $5.09 million. analysts expect that DURECT Corporation will post -0.14 EPS for the current year.
A number of large investors have recently made changes to their positions in DRRX. Ingalls & Snyder LLC raised its position in DURECT Corporation by 213.1% during the 2nd quarter. Ingalls & Snyder LLC now owns 6,419,482 shares of the specialty pharmaceutical company’s stock worth $10,014,000 after purchasing an additional 4,369,400 shares during the last quarter. Asymmetry Capital Management L.P. bought a new position in shares of DURECT Corporation in the 2nd quarter worth about $1,636,000. Tocqueville Asset Management L.P. raised its position in shares of DURECT Corporation by 70.3% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 2,043,383 shares of the specialty pharmaceutical company’s stock worth $3,617,000 after acquiring an additional 843,383 shares in the last quarter. Stonepine Capital Management LLC raised its position in shares of DURECT Corporation by 13.4% in the 2nd quarter. Stonepine Capital Management LLC now owns 3,175,994 shares of the specialty pharmaceutical company’s stock worth $4,955,000 after acquiring an additional 374,618 shares in the last quarter. Finally, Mangrove Partners bought a new position in shares of DURECT Corporation in the 2nd quarter worth about $530,000. 45.91% of the stock is owned by institutional investors and hedge funds.
DURECT Corporation Company Profile
Durect Corporation is a biopharmaceutical company with research and development programs. The Company’s products candidates include DUR-928, oral for metabolic/lipid disorders, and DUR-928, injectable for acute organ injuries. Its other product candidates include POSIMIR (controlled release injection of bupivacaine), REMOXY (oral controlled release oxycodone), ORADUR-ADHD, ELADUR (controlled release injection of bupivicane), Relday (risperidone), ORADUR-based opioid (hydromorphone) and SABER-based ophthalmic.
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