DURECT Corporation (NASDAQ:DRRX) – Research analysts at Zacks Investment Research reduced their FY2018 earnings per share (EPS) estimates for DURECT Corporation in a report released on Wednesday. Zacks Investment Research analyst G. Zeng now forecasts that the specialty pharmaceutical company will earn ($0.15) per share for the year, down from their previous estimate of ($0.11). Zacks Investment Research also issued estimates for DURECT Corporation’s FY2019 earnings at ($0.18) EPS and FY2020 earnings at $0.00 EPS.

DRRX has been the subject of several other reports. HC Wainwright cut DURECT Corporation from a “buy” rating to a “neutral” rating and set a $3.00 price target for the company. in a research report on Friday, October 20th. ValuEngine cut DURECT Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 21st. Laidlaw reduced their price target on DURECT Corporation from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Friday, October 20th. Finally, Stifel Nicolaus raised DURECT Corporation from a “hold” rating to a “buy” rating and increased their price target for the company from $1.25 to $3.00 in a research report on Wednesday, July 12th.

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Shares of DURECT Corporation (NASDAQ:DRRX) traded down 0.5002% on Friday, hitting $0.7758. The company had a trading volume of 504,713 shares. The firm has a 50 day moving average of $1.69 and a 200-day moving average of $1.46. DURECT Corporation has a 12-month low of $0.74 and a 12-month high of $2.17. The firm’s market capitalization is $114.04 million.

DURECT Corporation (NASDAQ:DRRX) last issued its quarterly earnings data 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). 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 during the quarter, compared to the consensus estimate of $5.17 million.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ingalls & Snyder LLC boosted its position in 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 purchasing an additional 4,369,400 shares during the last quarter. Vanguard Group Inc. boosted its position in DURECT Corporation by 3.3% during the second quarter. Vanguard Group Inc. now owns 5,368,184 shares of the specialty pharmaceutical company’s stock valued at $8,374,000 after purchasing an additional 169,226 shares during the last quarter. Stonepine Capital Management LLC boosted its position in DURECT Corporation by 13.4% during the second quarter. Stonepine Capital Management LLC now owns 3,175,994 shares of the specialty pharmaceutical company’s stock valued at $4,955,000 after purchasing an additional 374,618 shares during the last quarter. State Street Corp boosted its position in DURECT Corporation by 10.1% during the second quarter. State Street Corp now owns 2,117,618 shares of the specialty pharmaceutical company’s stock valued at $3,303,000 after purchasing an additional 193,734 shares during the last quarter. Finally, Northern Trust Corp boosted its position in DURECT Corporation by 10.9% during the second quarter. Northern Trust Corp now owns 1,577,145 shares of the specialty pharmaceutical company’s stock valued at $2,460,000 after purchasing an additional 154,640 shares during the last quarter. 45.90% of the stock is owned by hedge funds and other institutional investors.

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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