Shares of DURECT Corporation (NASDAQ:DRRX) rose 0% during mid-day trading on Friday . The company traded as high as $0.99 and last traded at $0.96. Approximately 596,433 shares were traded during trading, a decline of 16% from the average daily volume of 707,895 shares. The stock had previously closed at $0.96.

DRRX has been the topic of a number of research reports. Laidlaw lowered their price objective on DURECT Corporation from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. HC Wainwright restated a “hold” rating on shares of DURECT Corporation in a research report on Thursday, November 2nd. Stifel Nicolaus cut DURECT Corporation from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. Finally, ValuEngine upgraded DURECT Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th.

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 announced its quarterly earnings results on Wednesday, November 1st. The specialty pharmaceutical company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.09. The business had revenue of $20.75 million for the quarter, compared to analyst estimates of $5.09 million. DURECT Corporation had a negative return on equity of 419.65% and a negative net margin of 62.57%. equities analysts anticipate that DURECT Corporation will post -0.14 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in DRRX. Wells Fargo & Company MN boosted its stake in DURECT Corporation by 152.3% in the 1st quarter. Wells Fargo & Company MN now owns 381,802 shares of the specialty pharmaceutical company’s stock valued at $400,000 after buying an additional 230,500 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in DURECT Corporation by 2.2% in the 1st quarter. TIAA CREF Investment Management LLC now owns 423,625 shares of the specialty pharmaceutical company’s stock valued at $445,000 after buying an additional 9,289 shares in the last quarter. Geode Capital Management LLC boosted its stake in DURECT Corporation by 2.6% in the 1st quarter. Geode Capital Management LLC now owns 985,630 shares of the specialty pharmaceutical company’s stock valued at $1,034,000 after buying an additional 24,869 shares in the last quarter. Gagnon Securities LLC boosted its stake in DURECT Corporation by 35.9% in the 2nd quarter. Gagnon Securities LLC now owns 1,283,954 shares of the specialty pharmaceutical company’s stock valued at $2,003,000 after buying an additional 338,881 shares in the last quarter. Finally, Ingalls & Snyder LLC boosted its stake in DURECT Corporation by 213.1% in 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 buying an additional 4,369,400 shares in the last quarter. 46.51% of the stock is currently owned by institutional investors and hedge funds.

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About DURECT Corporation

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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