DURECT Co. (NASDAQ:DRRX) shares saw unusually-high trading volume on Tuesday . Approximately 2,344,600 shares changed hands during trading, an increase of 198% from the previous session’s volume of 787,691 shares.The stock last traded at $1.90 and had previously closed at $1.75.

DRRX has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and set a $3.50 price objective on shares of DURECT in a research report on Tuesday, September 10th. ValuEngine raised DURECT from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Finally, Cantor Fitzgerald initiated coverage on DURECT in a research report on Friday, September 6th. They set an “overweight” rating and a $5.00 price objective for the company.

The stock has a 50-day moving average price of $1.50 and a 200 day moving average price of $0.88. The company has a quick ratio of 3.92, a current ratio of 4.26 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $364.69 million, a price-to-earnings ratio of -11.88 and a beta of 1.65.

DURECT (NASDAQ:DRRX) last announced its quarterly earnings results on Thursday, August 1st. The specialty pharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $3.99 million during the quarter, compared to the consensus estimate of $4.05 million. DURECT had a negative return on equity of 116.97% and a negative net margin of 123.22%. As a group, equities analysts forecast that DURECT Co. will post -0.09 earnings per share for the current fiscal year.

In other DURECT news, major shareholder First Eagle Investment Managem purchased 4,000,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average cost of $0.52 per share, with a total value of $2,080,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.20% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goelzer Investment Management Inc. acquired a new position in DURECT in the second quarter valued at approximately $26,000. BNP Paribas Arbitrage SA lifted its stake in DURECT by 1,420.0% in the first quarter. BNP Paribas Arbitrage SA now owns 42,545 shares of the specialty pharmaceutical company’s stock valued at $27,000 after buying an additional 39,746 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in DURECT by 51.8% in the second quarter. Tower Research Capital LLC TRC now owns 60,829 shares of the specialty pharmaceutical company’s stock valued at $40,000 after buying an additional 20,764 shares during the last quarter. Morgan Stanley lifted its stake in DURECT by 319.8% in the second quarter. Morgan Stanley now owns 166,748 shares of the specialty pharmaceutical company’s stock valued at $109,000 after buying an additional 127,028 shares during the last quarter. Finally, Worth Venture Partners LLC purchased a new stake in DURECT in the second quarter valued at approximately $172,000. 45.28% of the stock is owned by hedge funds and other institutional investors.

DURECT Company Profile (NASDAQ:DRRX)

DURECT Corporation, a biopharmaceutical company, researches and develops medicines based on its epigenetic regulator and pharmaceutical programs. The company offers ALZET product line that consists of osmotic pumps and accessories used for experimental research in mice, rats, and other laboratory animals; and a range of biodegradable polymers for pharmaceutical and medical device clients for use as raw materials in their products under the LACTEL brand.

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