DURECT (DRRX) Scheduled to Post Quarterly Earnings on Wednesday

DURECT (NASDAQ:DRRXGet Free Report) is set to issue its quarterly earnings data after the market closes on Wednesday, March 27th. Analysts expect the company to announce earnings of ($0.36) per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

DURECT Trading Up 9.4 %

NASDAQ:DRRX opened at $1.28 on Tuesday. The company has a market capitalization of $38.18 million, a P/E ratio of -0.81 and a beta of 0.82. DURECT has a twelve month low of $0.47 and a twelve month high of $7.46. The firm has a 50-day moving average price of $0.95 and a two-hundred day moving average price of $1.33.

Institutional Investors Weigh In On DURECT

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of DURECT by 2.2% in the third quarter. Vanguard Group Inc. now owns 10,243,592 shares of the specialty pharmaceutical company’s stock worth $5,923,000 after acquiring an additional 225,402 shares during the last quarter. Millennium Management LLC lifted its position in DURECT by 2,022.8% during the second quarter. Millennium Management LLC now owns 4,421,646 shares of the specialty pharmaceutical company’s stock valued at $2,114,000 after buying an additional 4,213,348 shares in the last quarter. State Street Corp lifted its position in DURECT by 1.3% during the first quarter. State Street Corp now owns 3,977,581 shares of the specialty pharmaceutical company’s stock valued at $2,665,000 after buying an additional 52,255 shares in the last quarter. Renaissance Technologies LLC lifted its position in DURECT by 20.2% during the first quarter. Renaissance Technologies LLC now owns 3,500,278 shares of the specialty pharmaceutical company’s stock valued at $2,345,000 after buying an additional 588,848 shares in the last quarter. Finally, Armistice Capital LLC acquired a new position in shares of DURECT during the first quarter worth $2,763,000. 28.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of DURECT from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $35.00.

View Our Latest Stock Analysis on DRRX

About DURECT

(Get Free Report)

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.

Further Reading

Earnings History for DURECT (NASDAQ:DRRX)

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