DURECT Co. (NASDAQ:DRRX) was up 9% on Friday . The stock traded as high as $0.73 and last traded at $0.73, approximately 362,988 shares were traded during trading. A decline of 43% from the average daily volume of 633,409 shares. The stock had previously closed at $0.67.
Separately, HC Wainwright lifted their target price on Palatin Technologies from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, May 9th.
The company has a market cap of $113.28 million, a P/E ratio of -4.50 and a beta of 1.89. The company has a debt-to-equity ratio of 1.82, a current ratio of 3.74 and a quick ratio of 3.39. The stock’s 50-day simple moving average is $0.61.
DURECT (NASDAQ:DRRX) last released its earnings results on Tuesday, May 7th. The specialty pharmaceutical company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company had revenue of $4.13 million for the quarter, compared to the consensus estimate of $3.50 million. DURECT had a negative return on equity of 108.92% and a negative net margin of 125.76%. Research analysts forecast that DURECT Co. will post -0.19 EPS for the current fiscal year.
In other DURECT news, Director Jon S. Saxe purchased 40,400 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were acquired at an average cost of $0.70 per share, with a total value of $28,280.00. Following the completion of the acquisition, the director now directly owns 27,810 shares in the company, valued at $19,467. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder First Eagle Investment Managem purchased 4,000,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were acquired at an average cost of $0.52 per share, for a total transaction of $2,080,000.00. The disclosure for this purchase can be found here. Insiders have purchased 4,095,400 shares of company stock worth $2,140,930 over the last quarter. 10.20% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA raised its holdings in DURECT by 1,420.0% during the first quarter. BNP Paribas Arbitrage SA now owns 42,545 shares of the specialty pharmaceutical company’s stock valued at $27,000 after acquiring an additional 39,746 shares during the period. Rhumbline Advisers raised its holdings in DURECT by 44.6% during the fourth quarter. Rhumbline Advisers now owns 204,285 shares of the specialty pharmaceutical company’s stock valued at $99,000 after acquiring an additional 62,985 shares during the period. Geode Capital Management LLC raised its holdings in DURECT by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,700,377 shares of the specialty pharmaceutical company’s stock valued at $821,000 after acquiring an additional 68,266 shares during the period. Prudential Financial Inc. raised its holdings in DURECT by 541.8% during the fourth quarter. Prudential Financial Inc. now owns 89,460 shares of the specialty pharmaceutical company’s stock valued at $43,000 after acquiring an additional 75,520 shares during the period. Finally, Gagnon Securities LLC raised its holdings in DURECT by 6.8% during the first quarter. Gagnon Securities LLC now owns 1,374,538 shares of the specialty pharmaceutical company’s stock valued at $860,000 after acquiring an additional 87,202 shares during the period. 44.38% of the stock is currently owned by institutional investors and hedge funds.
About DURECT (NASDAQ:DRRX)
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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