Oppenheimer initiated coverage on shares of DURECT (NASDAQ:DRRX) in a report released on Thursday morning, BenzingaRatingsTable reports. The firm issued an outperform rating and a $7.00 target price on the specialty pharmaceutical company’s stock.

Other analysts have also recently issued research reports about the stock. ValuEngine cut shares of DURECT from a buy rating to a hold rating in a research note on Thursday, July 2nd. BidaskClub downgraded shares of DURECT from a hold rating to a sell rating in a report on Wednesday, July 15th. Zacks Investment Research downgraded shares of DURECT from a buy rating to a hold rating in a report on Friday, May 8th. B. Riley restated a buy rating and set a $5.00 target price on shares of DURECT in a report on Monday, June 29th. Finally, HC Wainwright raised their target price on shares of DURECT from $5.50 to $6.00 and gave the company a buy rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $4.60.

Shares of NASDAQ DRRX traded up $0.02 during midday trading on Thursday, hitting $1.96. The company had a trading volume of 1,621,585 shares, compared to its average volume of 962,650. The company has a quick ratio of 2.43, a current ratio of 2.57 and a debt-to-equity ratio of 1.75. DURECT has a twelve month low of $0.95 and a twelve month high of $3.95. The business has a 50-day simple moving average of $2.21 and a two-hundred day simple moving average of $2.05. The firm has a market capitalization of $384.20 million, a price-to-earnings ratio of -16.33 and a beta of 2.18.

DURECT (NASDAQ:DRRX) last announced its quarterly earnings data on Monday, May 11th. The specialty pharmaceutical company reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.01). DURECT had a negative net margin of 82.94% and a negative return on equity of 114.36%. The company had revenue of $2.78 million during the quarter, compared to analyst estimates of $4.74 million. On average, equities analysts forecast that DURECT will post -0.14 EPS for the current year.

In other DURECT news, VP Judy R. Joice sold 57,820 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $2.45, for a total transaction of $141,659.00. Following the completion of the sale, the vice president now owns 67,611 shares in the company, valued at $165,646.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Lp Bleichroeder sold 39,388 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $2.50, for a total transaction of $98,470.00. The disclosure for this sale can be found here. 5.20% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position in DURECT by 861.3% in the first quarter. Citigroup Inc. now owns 82,775 shares of the specialty pharmaceutical company’s stock worth $128,000 after purchasing an additional 74,164 shares during the period. Geode Capital Management LLC lifted its holdings in shares of DURECT by 8.7% during the 1st quarter. Geode Capital Management LLC now owns 1,653,125 shares of the specialty pharmaceutical company’s stock valued at $2,561,000 after purchasing an additional 132,045 shares in the last quarter. Wells Fargo & Company MN raised its position in DURECT by 29.2% in the 1st quarter. Wells Fargo & Company MN now owns 284,769 shares of the specialty pharmaceutical company’s stock valued at $441,000 after buying an additional 64,278 shares during the last quarter. Two Sigma Investments LP raised its position in DURECT by 23.3% in the 1st quarter. Two Sigma Investments LP now owns 1,008,760 shares of the specialty pharmaceutical company’s stock valued at $1,564,000 after buying an additional 190,791 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in DURECT by 152.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 312,643 shares of the specialty pharmaceutical company’s stock valued at $1,188,000 after buying an additional 189,016 shares during the last quarter. Institutional investors and hedge funds own 49.84% of the company’s stock.

About DURECT

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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Analyst Recommendations for DURECT (NASDAQ:DRRX)

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