DURECT Corporation (NASDAQ:DRRX) Stock Rating Reaffirmed by HC Wainwright

DURECT Corporation (NASDAQ:DRRX)‘s stock had its “hold” rating restated by equities researchers at HC Wainwright in a report issued on Thursday, November 2nd.

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus upgraded shares of DURECT Corporation from a “hold” rating to a “buy” rating and lifted their target price for the stock from $1.25 to $3.00 in a research report on Wednesday, July 12th. Laidlaw decreased their price objective on shares of DURECT Corporation from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. Finally, ValuEngine upgraded shares of DURECT Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th.

DURECT Corporation (NASDAQ:DRRX) remained flat at $$1.09 during trading on Thursday. 1,799,506 shares of the company’s stock traded hands, compared to its average volume of 709,200. DURECT Corporation has a 12 month low of $0.74 and a 12 month high of $2.17. The company has a current ratio of 1.67, a quick ratio of 1.57 and a debt-to-equity ratio of 1.46.

DURECT Corporation (NASDAQ:DRRX) last issued its earnings results on Wednesday, November 1st. The specialty pharmaceutical company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. The company had revenue of $20.75 million for the quarter, compared to analysts’ expectations of $5.09 million. DURECT Corporation had a negative net margin of 62.57% and a negative return on equity of 419.65%. sell-side analysts expect that DURECT Corporation will post -0.14 earnings per share for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in DRRX. Ingalls & Snyder LLC boosted its stake in shares of DURECT Corporation by 213.1% during the 2nd quarter. Ingalls & Snyder LLC now owns 6,419,482 shares of the specialty pharmaceutical company’s stock valued at $10,014,000 after purchasing an additional 4,369,400 shares in the last quarter. Asymmetry Capital Management L.P. bought a new stake in DURECT Corporation during the second quarter worth about $1,636,000. Mangrove Partners boosted its stake in DURECT Corporation by 274.5% during the third quarter. Mangrove Partners now owns 1,271,591 shares of the specialty pharmaceutical company’s stock worth $2,251,000 after acquiring an additional 932,070 shares in the last quarter. Tocqueville Asset Management L.P. boosted its stake in DURECT Corporation by 70.3% during the third quarter. Tocqueville Asset Management L.P. now owns 2,043,383 shares of the specialty pharmaceutical company’s stock worth $3,617,000 after acquiring an additional 843,383 shares in the last quarter. Finally, Stonepine Capital Management LLC boosted its stake in DURECT Corporation by 13.4% during the second quarter. Stonepine Capital Management LLC now owns 3,175,994 shares of the specialty pharmaceutical company’s stock worth $4,955,000 after acquiring an additional 374,618 shares in the last quarter. 46.13% of the stock is currently owned by hedge funds and other institutional investors.

DURECT Corporation Company Profile

Durect Corporation is a biopharmaceutical company with research and development programs. The Company’s products candidates include DUR-928, oral for metabolic/lipid disorders, and DUR-928, injectable for acute organ injuries. Its other product candidates include POSIMIR (controlled release injection of bupivacaine), REMOXY (oral controlled release oxycodone), ORADUR-ADHD, ELADUR (controlled release injection of bupivicane), Relday (risperidone), ORADUR-based opioid (hydromorphone) and SABER-based ophthalmic.

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