Mangrove Partners Acquires New Stake in DURECT Corporation (DRRX)
Mangrove Partners acquired a new stake in DURECT Corporation (NASDAQ:DRRX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 339,521 shares of the specialty pharmaceutical company’s stock, valued at approximately $530,000. DURECT Corporation accounts for 0.1% of Mangrove Partners’ portfolio, making the stock its 22nd biggest holding. Mangrove Partners owned 0.23% of DURECT Corporation as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of DRRX. Tower Research Capital LLC TRC bought a new position in DURECT Corporation in the first quarter worth $118,000. Voya Investment Management LLC lifted its position in DURECT Corporation by 22.8% in the second quarter. Voya Investment Management LLC now owns 82,826 shares of the specialty pharmaceutical company’s stock worth $129,000 after purchasing an additional 15,394 shares during the period. SG Americas Securities LLC bought a new position in DURECT Corporation in the first quarter worth $147,000. State of Wisconsin Investment Board bought a new position in DURECT Corporation in the second quarter worth $151,000. Finally, Rhumbline Advisers lifted its position in DURECT Corporation by 12.0% in the second quarter. Rhumbline Advisers now owns 175,604 shares of the specialty pharmaceutical company’s stock worth $274,000 after purchasing an additional 18,871 shares during the period. 45.82% of the stock is owned by institutional investors.
Shares of DURECT Corporation (NASDAQ:DRRX) traded up 0.57% on Friday, reaching $1.77. The company had a trading volume of 354,561 shares. The company’s 50-day moving average price is $1.63 and its 200-day moving average price is $1.32. DURECT Corporation has a 52-week low of $0.74 and a 52-week high of $1.90. The firm’s market capitalization is $260.19 million.
DURECT Corporation (NASDAQ:DRRX) last issued its quarterly earnings data 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 firm had revenue of $4.32 million during the quarter, compared to analyst estimates of $5.17 million. On average, analysts predict that DURECT Corporation will post ($0.21) earnings per share for the current year.
Several research analysts recently commented on the company. ValuEngine raised DURECT Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Stifel Nicolaus raised DURECT Corporation from a “hold” rating to a “buy” rating and raised their target price for the stock from $1.25 to $3.00 in a research report on Wednesday, July 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of DURECT Corporation in a research report on Sunday, June 25th.
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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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