BidaskClub upgraded shares of DURECT (NASDAQ:DRRX) from a hold rating to a buy rating in a report published on Saturday.
Other equities analysts have also issued research reports about the stock. HC Wainwright raised shares of DURECT from a neutral rating to a buy rating and raised their price objective for the company 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $2.83.
DURECT (NASDAQ:DRRX) traded up $0.10 during midday trading on Friday, hitting $1.85. 1,503,737 shares of the stock were exchanged, compared to its average volume of 853,311. The company has a quick ratio of 1.57, a current ratio of 1.67 and a debt-to-equity ratio of 1.46. DURECT has a 1-year low of $0.74 and a 1-year high of $2.17.
Institutional investors and hedge funds have recently modified their holdings of the stock. Algert Global LLC bought a new position in DURECT during the fourth quarter valued at approximately $105,000. Voya Investment Management LLC raised its position in DURECT by 22.8% during the second quarter. Voya Investment Management LLC now owns 82,826 shares of the specialty pharmaceutical company’s stock valued at $129,000 after acquiring an additional 15,394 shares in the last quarter. SG Americas Securities LLC raised its position in DURECT by 1,095.1% during the fourth quarter. SG Americas Securities LLC now owns 188,328 shares of the specialty pharmaceutical company’s stock valued at $174,000 after acquiring an additional 172,570 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in DURECT by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 120,977 shares of the specialty pharmaceutical company’s stock valued at $189,000 after acquiring an additional 13,072 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in DURECT by 12.7% during the fourth quarter. Wells Fargo & Company MN now owns 472,248 shares of the specialty pharmaceutical company’s stock valued at $435,000 after purchasing an additional 53,236 shares during the last quarter. 44.30% of the stock is currently owned by hedge funds and other institutional investors.
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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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