DURECT Corporation (NASDAQ:DRRX) was downgraded by equities research analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued on Friday, MarketBeat reports. They currently have a $3.00 target price on the specialty pharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 285.80% from the company’s previous close.

DRRX has been the subject of a number of other research reports. ValuEngine upgraded shares of DURECT Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Stifel Nicolaus upgraded shares of DURECT Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $1.25 to $3.00 in a report on Wednesday, July 12th.

DURECT Corporation (NASDAQ DRRX) traded down 60.5279% during trading on Friday, reaching $0.7776. 8,670,978 shares of the company were exchanged. DURECT Corporation has a 1-year low of $0.74 and a 1-year high of $2.17. The company’s 50-day moving average price is $1.76 and its 200-day moving average price is $1.46. The stock’s market capitalization is $114.31 million.

DURECT Corporation (NASDAQ:DRRX) last announced its quarterly earnings data 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 net margin of 221.01% and a negative return on equity of 629.35%. The company had revenue of $4.32 million for the quarter, compared to the consensus estimate of $5.17 million. On average, equities analysts forecast that DURECT Corporation will post ($0.21) EPS for the current year.

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Large investors have recently bought and sold shares of the company. Voya Investment Management LLC raised its holdings in shares of DURECT Corporation by 22.8% in the 2nd quarter. Voya Investment Management LLC now owns 82,826 shares of the specialty pharmaceutical company’s stock valued at $129,000 after purchasing an additional 15,394 shares in the last quarter. State of Wisconsin Investment Board bought a new stake in shares of DURECT Corporation in the 2nd quarter valued at about $151,000. Tower Research Capital LLC TRC bought a new stake in shares of DURECT Corporation in the 1st quarter valued at about $118,000. The Manufacturers Life Insurance Company raised its holdings in shares of DURECT Corporation by 12.1% in the 2nd 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 in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of DURECT Corporation in the 1st quarter valued at about $147,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

About DURECT Corporation

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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