Shares of DURECT Co. (NASDAQ:DRRX) rose 7.3% during mid-day trading on Friday . The stock traded as high as $1.93 and last traded at $1.91, approximately 679,100 shares changed hands during mid-day trading. A decline of 14% from the average daily volume of 787,723 shares. The stock had previously closed at $1.78.
DRRX has been the subject of several analyst reports. Cantor Fitzgerald initiated coverage on DURECT in a report on Monday. They issued a “buy” rating and a $5.00 price objective for the company. BidaskClub cut DURECT from a “buy” rating to a “hold” rating in a report on Tuesday. HC Wainwright set a $3.50 price target on DURECT and gave the stock a “buy” rating in a report on Wednesday, September 18th. Stifel Nicolaus upped their price target on DURECT from $1.50 to $2.10 and gave the stock a “hold” rating in a report on Wednesday, September 18th. Finally, ValuEngine cut DURECT from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. DURECT presently has an average rating of “Hold” and a consensus price target of $3.53.
The company has a market cap of $359.72 million, a price-to-earnings ratio of -11.94 and a beta of 1.77. The company has a current ratio of 1.81, a quick ratio of 1.72 and a debt-to-equity ratio of 1.04. The business has a fifty day moving average of $1.88 and a two-hundred day moving average of $1.28.
DURECT (NASDAQ:DRRX) last released its quarterly earnings results on Monday, November 4th. The specialty pharmaceutical company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The business had revenue of $10.76 million during the quarter, compared to analyst estimates of $7.78 million. DURECT had a negative return on equity of 119.34% and a negative net margin of 105.07%. On average, research analysts forecast that DURECT Co. will post -0.11 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goelzer Investment Management Inc. acquired a new position in DURECT in the 2nd quarter worth about $26,000. Gagnon Securities LLC raised its holdings in DURECT by 22.5% in the 2nd quarter. Gagnon Securities LLC now owns 1,684,186 shares of the specialty pharmaceutical company’s stock worth $1,098,000 after purchasing an additional 309,648 shares during the period. Vanguard Group Inc. raised its holdings in shares of DURECT by 15.5% during the second quarter. Vanguard Group Inc. now owns 7,092,244 shares of the specialty pharmaceutical company’s stock valued at $4,624,000 after acquiring an additional 950,305 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of DURECT by 16.9% during the second quarter. Acadian Asset Management LLC now owns 1,080,352 shares of the specialty pharmaceutical company’s stock valued at $705,000 after acquiring an additional 155,833 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of DURECT during the second quarter valued at approximately $306,000. 32.14% of the stock is owned by institutional investors.
DURECT Company Profile (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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