DURECT (NASDAQ:DRRX) Stock Rating Lowered by Zacks Investment Research

DURECT (NASDAQ:DRRXGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Durect Corp. is pioneering the treatment of chronic diseases and conditions by developing and commercializing pharmaceutical systems to deliver the right drug to the right place in the right amount at the right time. Its pharmaceutical systems combine engineering innovations and delivery technology from the medical device and drug delivery industries with its proprietary pharmaceutical and biotechnology drug formulations. “

Separately, StockNews.com assumed coverage on DURECT in a research note on Friday, April 29th. They issued a “hold” rating on the stock.

DURECT stock opened at $0.43 on Thursday. The stock’s fifty day moving average price is $0.55 and its two-hundred day moving average price is $0.79. DURECT has a one year low of $0.40 and a one year high of $1.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 8.13 and a quick ratio of 7.94. The firm has a market cap of $96.91 million, a PE ratio of -2.66 and a beta of 1.47.

DURECT (NASDAQ:DRRXGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The specialty pharmaceutical company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). DURECT had a negative return on equity of 52.37% and a negative net margin of 259.46%. During the same quarter last year, the firm posted ($0.05) EPS. Sell-side analysts expect that DURECT will post -0.19 earnings per share for the current fiscal year.

In other news, Director Judith J. Robertson acquired 200,000 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The shares were bought at an average price of $0.59 per share, with a total value of $118,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 5.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its position in shares of DURECT by 140.9% in the 4th quarter. Barclays PLC now owns 274,589 shares of the specialty pharmaceutical company’s stock valued at $270,000 after buying an additional 160,615 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of DURECT by 53.6% in the 4th quarter. Wells Fargo & Company MN now owns 143,571 shares of the specialty pharmaceutical company’s stock valued at $141,000 after buying an additional 50,122 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of DURECT by 17.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 224,588 shares of the specialty pharmaceutical company’s stock valued at $221,000 after buying an additional 33,252 shares during the last quarter. Millennium Management LLC grew its position in shares of DURECT by 521.1% in the 4th quarter. Millennium Management LLC now owns 823,734 shares of the specialty pharmaceutical company’s stock valued at $812,000 after buying an additional 691,102 shares during the last quarter. Finally, Gagnon Securities LLC grew its position in shares of DURECT by 5.5% in the 4th quarter. Gagnon Securities LLC now owns 1,401,051 shares of the specialty pharmaceutical company’s stock valued at $1,381,000 after buying an additional 73,647 shares during the last quarter. Hedge funds and other institutional investors own 50.60% of the company’s stock.

DURECT Company Profile (Get Rating)

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 research in mice, rats, and other laboratory animals. It also develops larsucosterol (DUR-928), an endogenous, orally bioavailable small molecule that is in Phase IIb clinical trial to play a regulatory role in lipid metabolism, stress and inflammatory responses, and cell death and survival to treat alcohol-associated hepatitis, as well as completed Phase Ib clinical trial to treat patients with nonalcoholic steatohepatitis.

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