Tocqueville Asset Management L.P. boosted its position in DURECT Corporation (NASDAQ:DRRX) by 48.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,200,000 shares of the specialty pharmaceutical company’s stock after buying an additional 391,500 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 0.85% of DURECT Corporation worth $1,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in DURECT Corporation by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 370,387 shares of the specialty pharmaceutical company’s stock worth $578,000 after purchasing an additional 14,553 shares in the last quarter. State of Wisconsin Investment Board bought a new position in shares of DURECT Corporation during the second quarter valued at $151,000. Rhumbline Advisers increased its holdings in shares of DURECT Corporation by 12.0% during the second quarter. Rhumbline Advisers now owns 175,604 shares of the specialty pharmaceutical company’s stock valued at $274,000 after acquiring an additional 18,871 shares in the last quarter. Ingalls & Snyder LLC increased its holdings in shares of DURECT Corporation by 213.1% during 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 acquiring an additional 4,369,400 shares in the last quarter. Finally, Gagnon Securities LLC boosted its position in shares of DURECT Corporation by 35.9% during 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. Institutional investors own 45.82% of the company’s stock.
DURECT Corporation (DRRX) traded up 0.62% during mid-day trading on Friday, reaching $1.61. The company’s stock had a trading volume of 350,279 shares. The firm’s 50 day moving average is $1.67 and its 200-day moving average is $1.29. DURECT Corporation has a 12-month low of $0.74 and a 12-month high of $1.90. The company’s market cap is $236.67 million.
DURECT Corporation (NASDAQ:DRRX) last announced its quarterly earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.02. DURECT Corporation had a negative return on equity of 629.35% and a negative net margin of 221.01%. The business had revenue of $4.32 million for the quarter, compared to analysts’ expectations of $5.17 million. Equities analysts anticipate that DURECT Corporation will post ($0.21) earnings per share for the current fiscal year.
Several equities research analysts recently commented on DRRX shares. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price objective on shares of DURECT Corporation in a research report on Monday, May 22nd. Stifel Nicolaus raised DURECT Corporation from a “hold” rating to a “buy” rating and raised their target price for the stock from $1.25 to $3.00 in a research report on Wednesday, July 12th.
DURECT Corporation 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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