Tocqueville Asset Management L.P. increased its stake in shares of DURECT Corporation (NASDAQ:DRRX) by 48.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,200,000 shares of the specialty pharmaceutical company’s stock after buying an additional 391,500 shares during the period. Tocqueville Asset Management L.P. owned about 0.85% of DURECT Corporation worth $1,872,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Ingalls & Snyder LLC boosted its position in DURECT Corporation by 213.1% in the second quarter. Ingalls & Snyder LLC now owns 6,419,482 shares of the specialty pharmaceutical company’s stock valued at $10,014,000 after buying an additional 4,369,400 shares during the last quarter. Stonepine Capital Management LLC boosted its position in DURECT Corporation by 28.6% in the first quarter. Stonepine Capital Management LLC now owns 2,801,376 shares of the specialty pharmaceutical company’s stock valued at $2,941,000 after buying an additional 623,585 shares during the last quarter. Gagnon Securities LLC boosted its position in DURECT Corporation by 35.9% in the second quarter. Gagnon Securities LLC now owns 1,283,954 shares of the specialty pharmaceutical company’s stock valued at $2,003,000 after buying an additional 338,881 shares during the last quarter. Wells Fargo & Company MN boosted its position in DURECT Corporation by 152.3% in the first quarter. Wells Fargo & Company MN now owns 381,802 shares of the specialty pharmaceutical company’s stock valued at $400,000 after buying an additional 230,500 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in DURECT Corporation during the first quarter valued at about $147,000. Hedge funds and other institutional investors own 52.97% of the company’s stock.
DURECT Corporation (DRRX) opened at 1.61 on Friday. DURECT Corporation has a 52-week low of $0.74 and a 52-week high of $1.90. The firm’s market cap is $236.67 million. The firm’s 50-day moving average price is $1.70 and its 200 day moving average price is $1.25.
DURECT Corporation (NASDAQ:DRRX) last posted its quarterly earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.02. The business had revenue of $4.32 million for the quarter, compared to the consensus estimate of $5.17 million. DURECT Corporation had a negative return on equity of 629.35% and a negative net margin of 221.01%. On average, equities analysts anticipate that DURECT Corporation will post ($0.21) earnings per share for the current year.
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Several equities analysts have issued reports on DRRX shares. Stifel Nicolaus upgraded DURECT Corporation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $1.25 to $3.00 in a research report on Wednesday, July 12th. HC Wainwright reiterated a “buy” rating and set a $3.00 target price on shares of DURECT Corporation in a research report on Sunday, June 25th.
DURECT Corporation Company Profile
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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