Asymmetry Capital Management L.P. Invests $1.64 Million in DURECT Corporation (DRRX)
Asymmetry Capital Management L.P. purchased a new stake in shares of DURECT Corporation (NASDAQ:DRRX) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,048,473 shares of the specialty pharmaceutical company’s stock, valued at approximately $1,636,000. DURECT Corporation makes up 1.9% of Asymmetry Capital Management L.P.’s investment portfolio, making the stock its 20th largest position. Asymmetry Capital Management L.P. owned approximately 0.71% of DURECT Corporation at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DRRX. Teachers Advisors LLC grew its position in shares of DURECT Corporation by 16.0% during the 4th quarter. Teachers Advisors LLC now owns 224,361 shares of the specialty pharmaceutical company’s stock valued at $301,000 after purchasing an additional 31,001 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of DURECT Corporation by 152.3% during the 1st quarter. Wells Fargo & Company MN now owns 381,802 shares of the specialty pharmaceutical company’s stock valued at $400,000 after purchasing an additional 230,500 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of DURECT Corporation during the 1st quarter valued at $147,000. TIAA CREF Investment Management LLC grew its position in shares of DURECT Corporation by 2.2% during the 1st quarter. TIAA CREF Investment Management LLC now owns 423,625 shares of the specialty pharmaceutical company’s stock valued at $445,000 after purchasing an additional 9,289 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of DURECT Corporation by 2.6% during the 1st quarter. Geode Capital Management LLC now owns 985,630 shares of the specialty pharmaceutical company’s stock valued at $1,034,000 after purchasing an additional 24,869 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.
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DURECT Corporation (NASDAQ:DRRX) traded down 3.283% on Thursday, hitting $1.915. 205,655 shares of the stock were exchanged. The firm’s market cap is $281.50 million. The company has a 50-day moving average of $1.73 and a 200 day moving average of $1.43. DURECT Corporation has a 12 month low of $0.75 and a 12 month high of $2.17.
DURECT Corporation (NASDAQ:DRRX) last announced its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.02). The firm had revenue of $4.32 million for the quarter, compared to the consensus estimate of $5.17 million. DURECT Corporation had a negative net margin of 221.01% and a negative return on equity of 629.35%. Equities research analysts expect that DURECT Corporation will post ($0.21) earnings per share for the current fiscal year.
A number of research analysts have recently commented on DRRX shares. Stifel Nicolaus upgraded shares of DURECT Corporation from a “hold” rating to a “buy” rating and boosted their price target for the company from $1.25 to $3.00 in a research report on Wednesday, July 12th. HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of DURECT Corporation in a research report on Sunday, June 25th. Finally, ValuEngine upgraded shares of DURECT Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th.
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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