HC Wainwright Reaffirms “Neutral” Rating for DURECT (NASDAQ:DRRX)

HC Wainwright reiterated their neutral rating on shares of DURECT (NASDAQ:DRRX) in a research report report published on Thursday morning,Benzinga reports.

Separately, StockNews.com assumed coverage on shares of DURECT in a report on Thursday. They issued a “sell” rating on the stock.

DURECT Price Performance

DRRX stock opened at $0.80 on Thursday. DURECT has a 1-year low of $0.70 and a 1-year high of $1.88. The stock has a market capitalization of $24.83 million, a P/E ratio of -1.31 and a beta of 0.91. The business has a fifty day moving average price of $0.80 and a 200-day moving average price of $1.00.

DURECT (NASDAQ:DRRX) last issued its earnings results on Wednesday, March 26th. The specialty pharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The business had revenue of $2.30 million during the quarter, compared to analysts’ expectations of $6.91 million. DURECT had a negative return on equity of 300.62% and a negative net margin of 198.58%. As a group, analysts anticipate that DURECT will post -0.5 earnings per share for the current year.

Institutional Trading of DURECT

A number of hedge funds have recently bought and sold shares of the company. Jane Street Group LLC grew its stake in shares of DURECT by 266.0% during the 4th quarter. Jane Street Group LLC now owns 39,196 shares of the specialty pharmaceutical company’s stock valued at $29,000 after purchasing an additional 28,486 shares during the period. Geode Capital Management LLC lifted its stake in shares of DURECT by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 319,905 shares of the specialty pharmaceutical company’s stock worth $429,000 after purchasing an additional 14,658 shares during the period. Finally, Richmond Brothers Inc. boosted its holdings in shares of DURECT by 12.2% in the fourth quarter. Richmond Brothers Inc. now owns 1,281,176 shares of the specialty pharmaceutical company’s stock worth $961,000 after buying an additional 138,920 shares during the last quarter. Hedge funds and other institutional investors own 28.03% of the company’s stock.

DURECT Company Profile

DURECT Corporation, a biopharmaceutical company, develops medicines based on its epigenetic regulator program. The company's lead product larsucosterol (DUR-928), an endogenous, orally bioavailable small molecule that is in Phase IIb clinical trial to play a regulatory role in lipid metabolism, stress and inflammatory responses, and cell death and survival to treat alcohol-associated hepatitis, as well as completed Phase Ib clinical trial to treat patients with nonalcoholic steatohepatitis.