HC Wainwright cut shares of DURECT Corporation (NASDAQ:DRRX) from a buy rating to a neutral rating in a research note issued to investors on Friday morning. The brokerage currently has $3.00 target price on the specialty pharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus upgraded DURECT Corporation from a hold rating to a buy rating and upped their price target for the company from $1.25 to $3.00 in a research report on Wednesday, July 12th. ValuEngine upgraded DURECT Corporation from a sell rating to a hold rating in a research report on Tuesday, September 26th.

DURECT Corporation (NASDAQ DRRX) traded down 60.5279% during trading on Friday, reaching $0.7776. The company’s stock had a trading volume of 8,670,978 shares. The firm has a 50 day moving average price of $1.76 and a 200-day moving average price of $1.46. DURECT Corporation has a 52-week low of $0.74 and a 52-week high of $2.17. The stock’s market cap is $114.31 million.

DURECT Corporation (NASDAQ:DRRX) last released its quarterly earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.07) EPS 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 during the quarter, compared to the consensus estimate of $5.17 million. On average, analysts expect that DURECT Corporation will post ($0.21) earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ingalls & Snyder LLC grew its position in shares of DURECT Corporation by 213.1% in the 2nd quarter. Ingalls & Snyder LLC now owns 6,419,482 shares of the specialty pharmaceutical company’s stock valued at $10,014,000 after buying an additional 4,369,400 shares during the last quarter. Vanguard Group Inc. grew its position in shares of DURECT Corporation by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 5,368,184 shares of the specialty pharmaceutical company’s stock valued at $8,374,000 after buying an additional 169,226 shares during the last quarter. Stonepine Capital Management LLC grew its position in shares of DURECT Corporation by 13.4% in the 2nd quarter. Stonepine Capital Management LLC now owns 3,175,994 shares of the specialty pharmaceutical company’s stock valued at $4,955,000 after buying an additional 374,618 shares during the last quarter. State Street Corp grew its position in shares of DURECT Corporation by 10.1% in the 2nd quarter. State Street Corp now owns 2,117,618 shares of the specialty pharmaceutical company’s stock valued at $3,303,000 after buying an additional 193,734 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of DURECT Corporation by 10.9% in the 2nd quarter. Northern Trust Corp now owns 1,577,145 shares of the specialty pharmaceutical company’s stock valued at $2,460,000 after buying an additional 154,640 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

DURECT Corporation Company Profile

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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