DURECT Co. (NASDAQ:DRRX) Short Interest Update

DURECT Co. (NASDAQ:DRRXGet Free Report) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,050,000 shares, an increase of 15.1% from the May 15th total of 912,500 shares. Based on an average daily trading volume, of 176,700 shares, the short-interest ratio is currently 5.9 days. Currently, 3.6% of the company’s stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Richmond Brothers Inc. purchased a new stake in shares of DURECT during the 4th quarter valued at $306,000. Ironwood Investment Management LLC boosted its holdings in shares of DURECT by 144.6% in the 3rd quarter. Ironwood Investment Management LLC now owns 206,267 shares of the specialty pharmaceutical company’s stock worth $514,000 after purchasing an additional 121,930 shares in the last quarter. Silverberg Bernstein Capital Management LLC bought a new position in shares of DURECT during the 4th quarter valued at about $28,000. Barclays PLC raised its holdings in shares of DURECT by 3,366.7% during the 3rd quarter. Barclays PLC now owns 41,600 shares of the specialty pharmaceutical company’s stock valued at $102,000 after buying an additional 40,400 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in DURECT in the 3rd quarter worth approximately $64,000. 28.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DRRX has been the subject of a number of recent analyst reports. StockNews.com upgraded DURECT from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Oppenheimer restated an “outperform” rating and set a $5.00 price target on shares of DURECT in a research note on Monday, April 1st. Finally, HC Wainwright reissued a “neutral” rating on shares of DURECT in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, DURECT has an average rating of “Moderate Buy” and an average target price of $27.50.

View Our Latest Research Report on DRRX

DURECT Trading Up 7.9 %

Shares of DRRX opened at $1.78 on Tuesday. The business’s 50-day moving average price is $1.16 and its 200-day moving average price is $0.95. DURECT has a twelve month low of $0.47 and a twelve month high of $5.62.

DURECT (NASDAQ:DRRXGet Free Report) last posted its earnings results on Monday, May 13th. The specialty pharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.04). The business had revenue of $1.83 million for the quarter, compared to analysts’ expectations of $2.73 million. DURECT had a negative return on equity of 328.25% and a negative net margin of 279.77%. As a group, equities research analysts forecast that DURECT will post -0.85 EPS for the current year.

About DURECT

(Get Free Report)

DURECT Corporation, a biopharmaceutical company, develops medicines based on its epigenetic regulator program. The company's lead product larsucosterol (DUR-928), an endogenous, orally bioavailable small molecule that is in Phase IIb clinical trial to play a regulatory role in lipid metabolism, stress and inflammatory responses, and cell death and survival to treat alcohol-associated hepatitis, as well as completed Phase Ib clinical trial to treat patients with nonalcoholic steatohepatitis.

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