DURECT (DRRX) Rating Lowered to Sell at BidaskClub

BidaskClub lowered shares of DURECT (NASDAQ:DRRX) from a hold rating to a sell rating in a research report released on Wednesday.

DRRX has been the subject of a number of other research reports. HC Wainwright raised shares of DURECT from a neutral rating to a buy rating and boosted their target price for the stock from $1.50 to $3.50 in a research report on Tuesday, March 6th. ValuEngine raised shares of DURECT from a sell rating to a hold rating in a research report on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $2.83.

Shares of NASDAQ:DRRX opened at $1.70 on Wednesday. The firm has a market capitalization of $281.37 million, a P/E ratio of -56.67 and a beta of 1.15. DURECT has a 1 year low of $0.75 and a 1 year high of $2.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.61 and a quick ratio of 4.32.

DURECT (NASDAQ:DRRX) last issued its quarterly earnings data on Wednesday, May 2nd. The specialty pharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $3.49 million during the quarter, compared to analysts’ expectations of $4.20 million. DURECT had a negative net margin of 8.06% and a negative return on equity of 25.82%. equities analysts anticipate that DURECT will post -0.23 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its position in DURECT by 235.1% during the 1st quarter. Jane Street Group LLC now owns 48,827 shares of the specialty pharmaceutical company’s stock worth $104,000 after acquiring an additional 34,255 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in DURECT during the 1st quarter worth $131,000. MetLife Investment Advisors LLC acquired a new position in DURECT during the 1st quarter worth $158,000. Engineers Gate Manager LP acquired a new position in DURECT during the 1st quarter worth $218,000. Finally, Mackay Shields LLC acquired a new position in DURECT during the 1st quarter worth $367,000. 44.40% of the stock is owned by hedge funds and other institutional investors.

About DURECT

DURECT Corporation, a biopharmaceutical company, researches and develops medicines based on its epigenetic regulator and drug delivery 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 use as raw materials in their products for pharmaceutical and medical devices under the LACTEL brand.

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