DURECT Co. (NASDAQ:DRRX)’s stock price traded up 10.1% during mid-day trading on Thursday . The company traded as high as $1.60 and last traded at $1.53, 1,881,624 shares were traded during mid-day trading. An increase of 139% from the average session volume of 787,970 shares. The stock had previously closed at $1.39.
A number of research analysts have recently issued reports on the company. HC Wainwright set a $4.00 price objective on DURECT and gave the company a “buy” rating in a research note on Friday, July 19th. ValuEngine raised DURECT from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th.
The company has a market capitalization of $293.67 million, a price-to-earnings ratio of -9.56 and a beta of 1.88. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.92 and a current ratio of 4.26. The business has a 50 day moving average price of $1.04 and a 200-day moving average price of $0.75.
DURECT (NASDAQ:DRRX) last posted its quarterly earnings results on Thursday, August 1st. The specialty pharmaceutical company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. DURECT had a negative return on equity of 116.97% and a negative net margin of 123.22%. The business had revenue of $3.99 million for the quarter, compared to the consensus estimate of $4.05 million. As a group, equities analysts predict that DURECT Co. will post -0.16 EPS for the current fiscal year.
In other news, major shareholder First Eagle Investment Managem purchased 4,000,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $0.52 per share, with a total value of $2,080,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 4,055,000 shares of company stock worth $2,112,650. 10.20% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Goelzer Investment Management Inc. acquired a new position in DURECT during the 2nd quarter worth approximately $26,000. BNP Paribas Arbitrage SA increased its holdings in 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 worth $27,000 after purchasing an additional 39,746 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in 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 worth $40,000 after purchasing an additional 20,764 shares in the last quarter. Morgan Stanley increased its holdings in DURECT by 319.8% during the 2nd quarter. Morgan Stanley now owns 166,748 shares of the specialty pharmaceutical company’s stock worth $109,000 after purchasing an additional 127,028 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in DURECT by 95.0% during the 1st quarter. SG Americas Securities LLC now owns 274,459 shares of the specialty pharmaceutical company’s stock worth $172,000 after purchasing an additional 133,714 shares in the last quarter. 34.49% of the stock is currently owned by institutional investors and hedge funds.
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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