DURECT (NASDAQ:DRRX) Sees Unusually-High Trading Volume

Shares of DURECT Co. (NASDAQ:DRRX) saw an uptick in trading volume on Tuesday . 2,344,600 shares changed hands during mid-day trading, an increase of 198% from the previous session’s volume of 787,691 shares.The stock last traded at $1.90 and had previously closed at $1.75.

Several research firms have recently weighed in on DRRX. Stifel Nicolaus upped their price objective on DURECT from $1.50 to $2.10 and gave the company a “hold” rating in a research note on Wednesday. Cantor Fitzgerald assumed coverage on DURECT in a report on Friday, September 6th. They issued an “overweight” rating and a $5.00 target price on the stock. ValuEngine raised DURECT from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $3.50 target price on shares of DURECT in a report on Tuesday, September 10th.

The firm has a market capitalization of $373.32 million, a price-to-earnings ratio of -11.88 and a beta of 1.67. The company has a current ratio of 4.26, a quick ratio of 3.92 and a debt-to-equity ratio of 1.09. The firm has a fifty day moving average price of $1.54 and a 200 day moving average price of $0.89.

DURECT (NASDAQ:DRRX) last announced its earnings results on Thursday, August 1st. The specialty pharmaceutical company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $3.99 million for the quarter, compared to the consensus estimate of $4.05 million. DURECT had a negative return on equity of 116.97% and a negative net margin of 123.22%. As a group, equities analysts predict that DURECT Co. will post -0.09 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Goelzer Investment Management Inc. acquired a new position in shares of DURECT in the 2nd quarter worth approximately $26,000. BNP Paribas Arbitrage SA boosted its holdings in shares of DURECT by 1,420.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 42,545 shares of the specialty pharmaceutical company’s stock worth $27,000 after acquiring an additional 39,746 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of DURECT by 51.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 60,829 shares of the specialty pharmaceutical company’s stock worth $40,000 after acquiring an additional 20,764 shares in the last quarter. Morgan Stanley boosted its holdings in shares of DURECT by 319.8% in the 2nd quarter. Morgan Stanley now owns 166,748 shares of the specialty pharmaceutical company’s stock worth $109,000 after acquiring an additional 127,028 shares in the last quarter. Finally, Worth Venture Partners LLC acquired a new position in shares of DURECT in the 2nd quarter worth approximately $172,000. 45.28% 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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