Shares of DURECT Corporation (NASDAQ:DRRX) were down 8% on Wednesday following a dissappointing earnings announcement. The stock traded as low as $1.50 and last traded at $1.61, with a volume of 1,016,565 shares. The stock had previously closed at $1.75.

The specialty pharmaceutical company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.02. The firm had revenue of $4.32 million for the quarter, compared to analysts’ expectations of $5.17 million. DURECT Corporation had a negative net margin of 221.01% and a negative return on equity of 629.35%.

Several equities analysts have commented on DRRX shares. HC Wainwright reissued a “buy” rating and set a $3.00 price objective on shares of DURECT Corporation in a research report on Monday, May 22nd. Stifel Nicolaus raised DURECT Corporation from a “hold” rating to a “buy” rating and raised their price objective for the company from $1.25 to $3.00 in a research report on Wednesday, July 12th.

Several institutional investors have recently bought and sold shares of DRRX. Tower Research Capital LLC TRC bought a new position in DURECT Corporation during the first quarter valued at about $118,000. Voya Investment Management LLC raised 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 valued at $129,000 after buying an additional 15,394 shares in the last quarter. SG Americas Securities LLC bought a new position in DURECT Corporation during the first quarter valued at about $147,000. State of Wisconsin Investment Board bought a new position in DURECT Corporation during the second quarter valued at about $151,000. Finally, The Manufacturers Life Insurance Company raised its position in DURECT Corporation by 12.1% in the second quarter. The Manufacturers Life Insurance Company now owns 120,977 shares of the specialty pharmaceutical company’s stock valued at $189,000 after buying an additional 13,072 shares in the last quarter. 52.97% of the stock is owned by hedge funds and other institutional investors.

The company’s market capitalization is $239.61 million. The stock has a 50-day moving average of $1.70 and a 200-day moving average of $1.23.

TRADEMARK VIOLATION NOTICE: “DURECT Corporation (DRRX) Shares Down 8% Following Weak Earnings” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another website, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/08/19/durect-corporation-drrx-stock-price-down-8-after-earnings-miss-updated.html.

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.

Receive News & Stock Ratings for DURECT Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DURECT Corporation and related stocks with our FREE daily email newsletter.