DURECT (DRRX) Trading Down 16.7%

DURECT Co. (NASDAQ:DRRX) traded down 16.7% during trading on Thursday . The stock traded as low as $0.60 and last traded at $0.60. 749,258 shares were traded during trading, an increase of 61% from the average session volume of 466,614 shares. The stock had previously closed at $0.72.

Separately, HC Wainwright restated a “buy” rating and set a $3.50 price objective on shares of DURECT in a report on Thursday, May 9th.

The firm has a market cap of $97.89 million, a P/E ratio of -3.77 and a beta of 2.02. The company has a debt-to-equity ratio of 1.82, a current ratio of 3.74 and a quick ratio of 3.39.

DURECT (NASDAQ:DRRX) last released its quarterly earnings data on Tuesday, May 7th. The specialty pharmaceutical company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $4.13 million during the quarter, compared to the consensus estimate of $3.50 million. DURECT had a negative return on equity of 108.92% and a negative net margin of 125.76%. As a group, equities analysts forecast that DURECT Co. will post -0.19 earnings per share for the current fiscal year.

In other news, Director Jon S. Saxe acquired 40,400 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $0.70 per share, for a total transaction of $28,280.00. Following the completion of the acquisition, the director now directly owns 27,810 shares in the company, valued at approximately $19,467. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have bought 71,700 shares of company stock valued at $53,746. Corporate insiders own 10.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DRRX. BNP Paribas Arbitrage SA increased its holdings in shares of DURECT by 1,420.0% during the first quarter. BNP Paribas Arbitrage SA now owns 42,545 shares of the specialty pharmaceutical company’s stock valued at $27,000 after acquiring an additional 39,746 shares in the last quarter. Virtu Financial LLC bought a new stake in DURECT during the fourth quarter worth $32,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in DURECT by 1,208.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 65,400 shares of the specialty pharmaceutical company’s stock worth $41,000 after buying an additional 60,400 shares in the last quarter. Prudential Financial Inc. grew its holdings in DURECT by 541.8% during the fourth quarter. Prudential Financial Inc. now owns 89,460 shares of the specialty pharmaceutical company’s stock worth $43,000 after buying an additional 75,520 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in DURECT by 22.6% during the first quarter. The Manufacturers Life Insurance Company now owns 100,123 shares of the specialty pharmaceutical company’s stock worth $62,000 after buying an additional 18,478 shares in the last quarter. Hedge funds and other institutional investors own 45.11% of the company’s stock.

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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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