Durect Corp. (DRRX) Major Shareholder April Fund L.P. 21 Acquires 2,500,000 Shares of Stock
Durect Corp. (NASDAQ:DRRX) major shareholder April Fund L.P. 21 acquired 2,500,000 shares of Durect Corp. stock in a transaction dated Monday, September 26th. The stock was purchased at an average price of $1.15 per share, with a total value of $2,875,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Durect Corp. (NASDAQ:DRRX) opened at 1.40 on Thursday. The firm’s market capitalization is $192.37 million. The company’s 50-day moving average price is $1.70 and its 200 day moving average price is $1.45. Durect Corp. has a 12-month low of $0.99 and a 12-month high of $2.70.
Durect Corp. (NASDAQ:DRRX) last released its quarterly earnings results on Monday, August 1st. The specialty pharmaceutical company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.01. The firm earned $3.20 million during the quarter, compared to analyst estimates of $3.69 million. Durect Corp. had a negative return on equity of 190.00% and a negative net margin of 175.10%. On average, equities research analysts forecast that Durect Corp. will post ($0.26) EPS for the current fiscal year.
Separately, Rodman & Renshaw restated a “buy” rating and issued a $3.50 price objective (down from $4.00) on shares of Durect Corp. in a research note on Tuesday.
Several large investors have recently added to or reduced their stakes in the company. Gagnon Securities LLC boosted its stake in Durect Corp. by 16.4% in the second quarter. Gagnon Securities LLC now owns 957,880 shares of the specialty pharmaceutical company’s stock worth $1,169,000 after buying an additional 135,255 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Durect Corp. by 3.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,100,127 shares of the specialty pharmaceutical company’s stock worth $5,002,000 after buying an additional 131,135 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Durect Corp. by 13.5% in the second quarter. BlackRock Fund Advisors now owns 5,078,835 shares of the specialty pharmaceutical company’s stock worth $6,196,000 after buying an additional 605,778 shares during the period. BlackRock Investment Management LLC boosted its stake in shares of Durect Corp. by 10.0% in the second quarter. BlackRock Investment Management LLC now owns 441,648 shares of the specialty pharmaceutical company’s stock worth $539,000 after buying an additional 40,283 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Durect Corp. by 1.6% in the second quarter. Vanguard Group Inc. now owns 4,318,388 shares of the specialty pharmaceutical company’s stock worth $5,269,000 after buying an additional 69,149 shares during the period. Institutional investors and hedge funds own 49.31% of the company’s stock.
About Durect Corp.
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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