DURECT Corporation (DRRX) Given “Hold” Rating at HC Wainwright

DURECT Corporation (NASDAQ:DRRX)‘s stock had its “hold” rating restated by research analysts at HC Wainwright in a research note issued on Thursday.

A number of other equities analysts have also issued reports on DRRX. Stifel Nicolaus raised shares of DURECT Corporation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $1.25 to $3.00 in a research report on Wednesday, July 12th. ValuEngine raised shares of DURECT Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Laidlaw dropped their target price on shares of DURECT Corporation from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, October 20th.

DURECT Corporation (NASDAQ:DRRX) last announced its earnings results on Wednesday, November 1st. The specialty pharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.10. DURECT Corporation had a negative net margin of 221.01% and a negative return on equity of 629.35%.

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Institutional investors and hedge funds have recently bought and sold shares of the business. Voya Investment Management LLC boosted its stake in DURECT Corporation by 22.8% during the second quarter. Voya Investment Management LLC now owns 82,826 shares of the specialty pharmaceutical company’s stock worth $129,000 after buying an additional 15,394 shares in the last quarter. SG Americas Securities LLC acquired a new stake in DURECT Corporation during the first quarter worth $147,000. State of Wisconsin Investment Board acquired a new stake in DURECT Corporation during the second quarter worth $151,000. The Manufacturers Life Insurance Company boosted its stake in DURECT Corporation by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 120,977 shares of the specialty pharmaceutical company’s stock worth $189,000 after buying an additional 13,072 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in DURECT Corporation by 12.0% during the second quarter. Rhumbline Advisers now owns 175,604 shares of the specialty pharmaceutical company’s stock worth $274,000 after buying an additional 18,871 shares in the last quarter. Hedge funds and other institutional investors own 45.91% of the company’s stock.

DURECT Corporation 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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