683 Capital Management LLC lowered its stake in DURECT Corporation (NASDAQ:DRRX) by 38.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,324,856 shares of the specialty pharmaceutical company’s stock after selling 815,144 shares during the period. 683 Capital Management LLC owned 0.89% of DURECT worth $2,345,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in DURECT by 3.3% in the second quarter. Vanguard Group Inc. now owns 5,368,184 shares of the specialty pharmaceutical company’s stock valued at $8,374,000 after buying an additional 169,226 shares in the last quarter. Stonepine Capital Management LLC boosted its position in DURECT by 13.4% in the second quarter. Stonepine Capital Management LLC now owns 3,175,994 shares of the specialty pharmaceutical company’s stock valued at $4,955,000 after buying an additional 374,618 shares in the last quarter. State Street Corp boosted its position in DURECT by 10.1% in the second quarter. State Street Corp now owns 2,117,618 shares of the specialty pharmaceutical company’s stock valued at $3,303,000 after buying an additional 193,734 shares in the last quarter. Tocqueville Asset Management L.P. boosted its position in DURECT by 70.3% in the third quarter. Tocqueville Asset Management L.P. now owns 2,043,383 shares of the specialty pharmaceutical company’s stock valued at $3,617,000 after buying an additional 843,383 shares in the last quarter. Finally, Northern Trust Corp boosted its position in DURECT by 10.9% in the second quarter. Northern Trust Corp now owns 1,577,145 shares of the specialty pharmaceutical company’s stock valued at $2,460,000 after buying an additional 154,640 shares in the last quarter. Hedge funds and other institutional investors own 44.69% of the company’s stock.

DRRX has been the topic of a number of research analyst reports. HC Wainwright restated a “hold” rating on shares of DURECT in a research report on Thursday, November 2nd. ValuEngine lowered shares of DURECT from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 21st. Laidlaw cut their target price on shares of DURECT from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. Finally, Stifel Nicolaus lowered shares of DURECT from a “buy” rating to a “hold” rating in a research report on Friday, October 20th.

Shares of DURECT Corporation (NASDAQ DRRX) opened at $0.99 on Friday. DURECT Corporation has a 52-week low of $0.74 and a 52-week high of $2.17. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.67 and a quick ratio of 1.57.

DURECT (NASDAQ:DRRX) last issued its quarterly 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 analyst estimates of $5.09 million. DURECT 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 EPS for the current year.

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DURECT 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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Institutional Ownership by Quarter for DURECT (NASDAQ:DRRX)

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