Insider Buying: DURECT Co. (NASDAQ:DRRX) Director Purchases 25,000 Shares of Stock

DURECT Co. (NASDAQ:DRRX) Director Jon S. Saxe purchased 25,000 shares of the stock in a transaction on Monday, June 10th. The stock was acquired at an average cost of $0.55 per share, for a total transaction of $13,750.00. Following the completion of the acquisition, the director now owns 27,810 shares of the company’s stock, valued at approximately $15,295.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

NASDAQ:DRRX traded up $0.01 during mid-day trading on Friday, hitting $0.52. The company’s stock had a trading volume of 3,435 shares, compared to its average volume of 502,647. DURECT Co. has a 1 year low of $0.46 and a 1 year high of $2.24. The company has a debt-to-equity ratio of 1.82, a quick ratio of 3.39 and a current ratio of 3.74. The firm has a market cap of $85.14 million, a price-to-earnings ratio of -3.30 and a beta of 1.89.

DURECT (NASDAQ:DRRX) last posted its quarterly earnings results on Tuesday, May 7th. The specialty pharmaceutical company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. DURECT had a negative net margin of 125.76% and a negative return on equity of 108.92%. The company had revenue of $4.13 million for the quarter, compared to analyst estimates of $3.50 million. As a group, equities research analysts predict that DURECT Co. will post -0.19 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of DURECT by 1,208.0% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 65,400 shares of the specialty pharmaceutical company’s stock worth $41,000 after acquiring an additional 60,400 shares in the last quarter. Gagnon Securities LLC boosted its stake in shares of DURECT by 6.8% during the 1st quarter. Gagnon Securities LLC now owns 1,374,538 shares of the specialty pharmaceutical company’s stock worth $860,000 after acquiring an additional 87,202 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of DURECT by 22.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 100,123 shares of the specialty pharmaceutical company’s stock worth $62,000 after acquiring an additional 18,478 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in shares of DURECT by 29.7% during the 1st quarter. State of Wisconsin Investment Board now owns 214,000 shares of the specialty pharmaceutical company’s stock worth $134,000 after acquiring an additional 49,000 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of DURECT by 11.3% during the 1st quarter. Wells Fargo & Company MN now owns 277,317 shares of the specialty pharmaceutical company’s stock worth $174,000 after acquiring an additional 28,084 shares in the last quarter. 44.40% of the stock is currently owned by institutional investors.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $3.50 price target on shares of DURECT in a report on Thursday, May 9th.

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DURECT Company Profile

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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