DURECT (NASDAQ:DRRX) Trading Down 5.6%

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DURECT Co. (NASDAQ:DRRX)’s share price fell 5.6% during mid-day trading on Tuesday . The company traded as low as $1.35 and last traded at $1.36, 729,116 shares were traded during mid-day trading. A decline of 7% from the average session volume of 783,514 shares. The stock had previously closed at $1.44.

A number of brokerages have recently issued reports on DRRX. HC Wainwright set a $4.00 target price on shares of DURECT and gave the company a “buy” rating in a research note on Friday, July 19th. ValuEngine upgraded shares of DURECT from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th.

The company has a market cap of $270.64 million, a price-to-earnings ratio of -8.50 and a beta of 1.88. The firm’s 50 day moving average price is $0.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.92 and a current ratio of 4.26.

DURECT (NASDAQ:DRRX) last issued its earnings results on Thursday, August 1st. The specialty pharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $3.99 million for the quarter, compared to analyst estimates of $4.05 million. DURECT had a negative net margin of 123.22% and a negative return on equity of 116.97%. Equities research analysts forecast that DURECT Co. will post -0.16 earnings per share for the current year.

In related news, major shareholder First Eagle Investment Managem bought 4,000,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average price of $0.52 per share, for a total transaction of $2,080,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders bought 4,055,000 shares of company stock worth $2,112,650. Company insiders own 10.20% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its position in shares of DURECT by 51.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 60,829 shares of the specialty pharmaceutical company’s stock valued at $40,000 after buying an additional 20,764 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of DURECT by 1,420.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 42,545 shares of the specialty pharmaceutical company’s stock valued at $27,000 after buying an additional 39,746 shares during the last quarter. Goelzer Investment Management Inc. bought a new stake in shares of DURECT during the 2nd quarter valued at about $26,000. Tocqueville Asset Management L.P. grew its position in shares of DURECT by 5.9% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 1,100,218 shares of the specialty pharmaceutical company’s stock valued at $717,000 after buying an additional 61,500 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of DURECT by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,700,377 shares of the specialty pharmaceutical company’s stock valued at $821,000 after buying an additional 68,266 shares during the last quarter. 37.54% of the stock is owned by institutional investors and hedge funds.

About DURECT (NASDAQ:DRRX)

DURECT Corporation, a biopharmaceutical company, researches and develops medicines based on its epigenetic regulator and pharmaceutical programs. The company offers ALZET product line that consists of osmotic pumps and accessories used for experimental research in mice, rats, and other laboratory animals; and a range of biodegradable polymers for pharmaceutical and medical device clients for use as raw materials in their products under the LACTEL brand.

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