DURECT (NASDAQ:DRRX) Trading Down 6.4%

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DURECT Co. (NASDAQ:DRRX) shares dropped 6.4% during mid-day trading on Wednesday . The stock traded as low as $2.00 and last traded at $2.06, approximately 740,862 shares were traded during trading. A decline of 6% from the average daily volume of 785,193 shares. The stock had previously closed at $2.20.

DRRX has been the topic of a number of analyst reports. Cantor Fitzgerald assumed coverage on shares of DURECT in a research report on Monday, November 18th. They set a “buy” rating and a $5.00 target price on the stock. HC Wainwright set a $3.50 price target on DURECT and gave the company a “buy” rating in a report on Wednesday, September 18th. Stifel Nicolaus increased their price target on DURECT from $1.50 to $2.10 and gave the stock a “hold” rating in a research note on Wednesday, September 18th. BidaskClub upgraded DURECT from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, ValuEngine downgraded DURECT from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $3.53.

The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.72 and a current ratio of 1.81. The company has a market cap of $409.73 million, a PE ratio of -12.25 and a beta of 1.75. The firm has a fifty day simple moving average of $1.94 and a 200 day simple moving average of $1.37.

DURECT (NASDAQ:DRRX) last posted its quarterly earnings data on Monday, November 4th. The specialty pharmaceutical company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.03). The company had revenue of $10.76 million for the quarter, compared to analyst estimates of $7.78 million. DURECT had a negative net margin of 105.07% and a negative return on equity of 119.34%. As a group, equities analysts predict that DURECT Co. will post -0.11 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its position in DURECT by 173.9% during the third quarter. Millennium Management LLC now owns 517,185 shares of the specialty pharmaceutical company’s stock worth $951,000 after purchasing an additional 328,345 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of DURECT during the 3rd quarter valued at $55,000. Virtu Financial LLC purchased a new stake in shares of DURECT during the 3rd quarter valued at $293,000. Tocqueville Asset Management L.P. increased its holdings in shares of DURECT by 2.6% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 1,128,500 shares of the specialty pharmaceutical company’s stock worth $2,076,000 after buying an additional 28,282 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of DURECT by 11.3% during the 3rd quarter. California Public Employees Retirement System now owns 313,300 shares of the specialty pharmaceutical company’s stock worth $576,000 after buying an additional 31,700 shares during the last quarter. Hedge funds and other institutional investors own 30.08% of the company’s stock.

About DURECT (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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