Ingalls & Snyder LLC boosted its position in DURECT Co. (NASDAQ:DRRX) by 33.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,601,204 shares of the specialty pharmaceutical company’s stock after buying an additional 2,174,122 shares during the period. Ingalls & Snyder LLC owned approximately 5.79% of DURECT worth $7,929,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in DRRX. Mangrove Partners raised its holdings in shares of DURECT by 274.5% during the third quarter. Mangrove Partners now owns 1,271,591 shares of the specialty pharmaceutical company’s stock valued at $2,251,000 after purchasing an additional 932,070 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of DURECT by 61.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 263,476 shares of the specialty pharmaceutical company’s stock valued at $467,000 after purchasing an additional 100,200 shares during the period. Tocqueville Asset Management L.P. raised its holdings in shares of DURECT by 70.3% during the third quarter. Tocqueville Asset Management L.P. now owns 2,043,383 shares of the specialty pharmaceutical company’s stock valued at $3,617,000 after purchasing an additional 843,383 shares during the period. Asymmetry Capital Management L.P. acquired a new position in shares of DURECT during the second quarter valued at about $1,636,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of DURECT by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 120,977 shares of the specialty pharmaceutical company’s stock valued at $189,000 after purchasing an additional 13,072 shares during the period. Institutional investors and hedge funds own 44.69% of the company’s stock.
Shares of DURECT Co. (NASDAQ:DRRX) traded up $0.03 during midday trading on Friday, hitting $1.20. 468,911 shares of the stock traded hands, compared to its average volume of 733,933. DURECT Co. has a 52-week low of $0.74 and a 52-week high of $2.17. The firm has a market capitalization of $178.26, a price-to-earnings ratio of -8.00 and a beta of 1.68. The company has a quick ratio of 1.57, a current ratio of 1.67 and a debt-to-equity ratio of 1.46.
DURECT (NASDAQ:DRRX) last announced its quarterly earnings data on Wednesday, November 1st. The specialty pharmaceutical company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.09. The firm had revenue of $20.75 million for the quarter, compared to analyst estimates of $5.09 million. DURECT had a negative net margin of 62.57% and a negative return on equity of 419.65%. sell-side analysts forecast that DURECT Co. will post -0.14 earnings per share for the current fiscal year.
Several equities analysts have recently weighed in on DRRX shares. Laidlaw dropped their price objective on shares of DURECT from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, October 20th. ValuEngine lowered shares of DURECT from a “sell” rating to a “strong sell” rating in a report on Saturday, October 21st. Stifel Nicolaus lowered shares of DURECT from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Finally, HC Wainwright reiterated a “hold” rating on shares of DURECT in a report on Thursday, November 2nd.
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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