DURECT Corporation (DRRX) Earns Buy Rating from HC Wainwright

DURECT Corporation (NASDAQ:DRRX)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued to investors on Monday, May 22nd. They currently have a $3.00 price objective on the specialty pharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 129.01% from the company’s previous close.

Shares of DURECT Corporation (DRRX) traded up 0.77% during mid-day trading on Monday, reaching $1.31. 709,238 shares of the company traded hands. The company’s market capitalization is $185.98 million. The stock’s 50-day moving average is $1.15 and its 200-day moving average is $1.11. DURECT Corporation has a 52 week low of $0.74 and a 52 week high of $2.00.

DURECT Corporation (NASDAQ:DRRX) last posted its earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported ($0.06) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). DURECT Corporation had a negative net margin of 232.05% and a negative return on equity of 318.49%. The firm had revenue of $4.57 million during the quarter, compared to the consensus estimate of $3.60 million. On average, equities analysts predict that DURECT Corporation will post ($0.23) EPS for the current fiscal year.

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Several large investors have recently modified their holdings of DRRX. State Street Corp increased its stake in shares of DURECT Corporation by 2.5% in the fourth quarter. State Street Corp now owns 1,919,694 shares of the specialty pharmaceutical company’s stock worth $2,570,000 after buying an additional 46,450 shares during the period. Broadfin Capital LLC increased its stake in shares of DURECT Corporation by 33.0% in the fourth quarter. Broadfin Capital LLC now owns 8,506,229 shares of the specialty pharmaceutical company’s stock worth $11,398,000 after buying an additional 2,111,023 shares during the period. Kettle Hill Capital Management LLC purchased a new stake in shares of DURECT Corporation during the fourth quarter worth approximately $506,000. Stonepine Capital Management LLC increased its stake in shares of DURECT Corporation by 32.3% in the fourth quarter. Stonepine Capital Management LLC now owns 2,177,791 shares of the specialty pharmaceutical company’s stock worth $2,918,000 after buying an additional 531,621 shares during the period. Finally, Ingalls & Snyder LLC increased its stake in shares of DURECT Corporation by 1.3% in the first quarter. Ingalls & Snyder LLC now owns 2,050,082 shares of the specialty pharmaceutical company’s stock worth $2,153,000 after buying an additional 26,000 shares during the period. Institutional investors and hedge funds own 49.45% of the company’s stock.

About DURECT Corporation

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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