DURECT Co. (NASDAQ:DRRX) Short Interest Up 26.0% in January

DURECT Co. (NASDAQ:DRRX) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 5,190,000 shares, an increase of 26.0% from the January 15th total of 4,120,000 shares. Currently, 3.3% of the company’s stock are sold short. Based on an average daily trading volume, of 1,380,000 shares, the short-interest ratio is currently 3.8 days.

In related news, major shareholder Lp Bleichroeder bought 227,498 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were bought at an average price of $1.63 per share, with a total value of $370,821.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.20% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC bought a new stake in DURECT during the fourth quarter worth $46,000. Alambic Investment Management L.P. bought a new stake in DURECT during the fourth quarter worth $81,000. Commonwealth Equity Services LLC lifted its holdings in DURECT by 36.9% during the third quarter. Commonwealth Equity Services LLC now owns 25,955 shares of the specialty pharmaceutical company’s stock worth $47,000 after acquiring an additional 7,000 shares during the period. Squarepoint Ops LLC bought a new stake in DURECT during the third quarter worth $55,000. Finally, Fiera Capital Corp bought a new stake in DURECT during the fourth quarter worth $133,000. Institutional investors and hedge funds own 30.51% of the company’s stock.

Several research analysts recently issued reports on DRRX shares. BidaskClub cut DURECT from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 7th. Craig Hallum started coverage on DURECT in a research report on Wednesday, January 22nd. They set a “buy” rating on the stock. ValuEngine raised DURECT from a “sell” rating to a “hold” rating in a research report on Tuesday. B. Riley began coverage on DURECT in a research report on Friday, January 31st. They set a “buy” rating and a $5.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $5.50 price target on shares of DURECT in a report on Friday, January 3rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $4.40.

Shares of DURECT stock opened at $2.10 on Friday. The business’s fifty day simple moving average is $2.40 and its 200 day simple moving average is $1.96. The firm has a market capitalization of $340.48 million, a P/E ratio of -15.00 and a beta of 2.12. DURECT has a 12 month low of $0.50 and a 12 month high of $3.95. The company has a current ratio of 1.81, a quick ratio of 1.72 and a debt-to-equity ratio of 1.04.

DURECT Company Profile

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 experimental research in mice, rats, and other laboratory animals; and a range of biodegradable polymers for pharmaceutical and medical device clients for use as raw materials in their products under the LACTEL brand.

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