DURECT Co. (NASDAQ:DRRX) Sees Large Decrease in Short Interest

DURECT Co. (NASDAQ:DRRXGet Rating) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 11,290,000 shares, a drop of 14.5% from the May 15th total of 13,200,000 shares. Based on an average daily trading volume, of 917,400 shares, the short-interest ratio is presently 12.3 days. Approximately 5.0% of the company’s stock are sold short.

DURECT stock opened at $0.51 on Friday. DURECT has a 52 week low of $0.36 and a 52 week high of $1.84. The company’s 50 day moving average price is $0.46 and its two-hundred day moving average price is $0.66. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.83 and a quick ratio of 7.60.

DURECT (NASDAQ:DRRXGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The specialty pharmaceutical company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $1.92 million for the quarter, compared to analysts’ expectations of $2.43 million. DURECT had a negative net margin of 270.27% and a negative return on equity of 60.89%. During the same quarter in the previous year, the firm posted ($0.05) EPS. On average, analysts forecast that DURECT will post -0.19 EPS for the current fiscal year.

Separately, StockNews.com started coverage on shares of DURECT in a research report on Wednesday, June 8th. They set a “hold” rating on the stock.

In other news, Director Judith J. Robertson bought 65,000 shares of DURECT stock in a transaction dated Thursday, May 26th. The stock was bought at an average cost of $0.39 per share, for a total transaction of $25,350.00. Following the purchase, the director now directly owns 265,000 shares in the company, valued at approximately $103,350. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders bought 186,911 shares of company stock valued at $73,686. 5.20% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the stock. Credit Suisse AG raised its holdings in shares of DURECT by 4.2% in the 3rd quarter. Credit Suisse AG now owns 230,700 shares of the specialty pharmaceutical company’s stock worth $296,000 after purchasing an additional 9,204 shares during the period. Invesco Ltd. raised its holdings in DURECT by 25.7% during the 3rd quarter. Invesco Ltd. now owns 97,886 shares of the specialty pharmaceutical company’s stock valued at $125,000 after acquiring an additional 20,009 shares during the period. ProShare Advisors LLC raised its holdings in DURECT by 70.5% during the 4th quarter. ProShare Advisors LLC now owns 49,421 shares of the specialty pharmaceutical company’s stock valued at $49,000 after acquiring an additional 20,430 shares during the period. Janus Henderson Group PLC bought a new stake in DURECT during the 3rd quarter valued at $29,000. Finally, Cowen Prime Advisors LLC raised its holdings in DURECT by 27.7% during the 4th quarter. Cowen Prime Advisors LLC now owns 113,203 shares of the specialty pharmaceutical company’s stock valued at $112,000 after acquiring an additional 24,525 shares during the period. 50.60% of the stock is currently owned by institutional investors.

About DURECT (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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