Shares of DURECT Corporation (NASDAQ:DRRX) shot up 5.6% on Monday . The stock traded as high as $1.87 and last traded at $1.87. 615,610 shares changed hands during mid-day trading, an increase of 7% from the average session volume of 573,044 shares. The stock had previously closed at $1.77.

A number of brokerages recently issued reports on DRRX. ValuEngine raised DURECT Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Stifel Nicolaus upgraded DURECT Corporation from a “hold” rating to a “buy” rating and raised their price target for the stock from $1.25 to $3.00 in a research note on Wednesday, July 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $3.00 price target on shares of DURECT Corporation in a research report on Sunday, June 25th.

The stock has a 50-day moving average price of $1.66 and a 200 day moving average price of $1.38. The firm’s market cap is $308.70 million.

DURECT Corporation (NASDAQ:DRRX) last released its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.02). The company had revenue of $4.32 million during the quarter, compared to the consensus estimate of $5.17 million. DURECT Corporation had a negative return on equity of 629.35% and a negative net margin of 221.01%. Equities research analysts predict that DURECT Corporation will post ($0.21) EPS for the current year.

A number of institutional investors have recently made changes to their positions in DRRX. Teachers Advisors LLC increased its holdings in DURECT Corporation by 16.0% in the fourth quarter. Teachers Advisors LLC now owns 224,361 shares of the specialty pharmaceutical company’s stock valued at $301,000 after buying an additional 31,001 shares during the last quarter. Wells Fargo & Company MN raised its stake in DURECT Corporation by 152.3% during the first quarter. Wells Fargo & Company MN now owns 381,802 shares of the specialty pharmaceutical company’s stock valued at $400,000 after buying an additional 230,500 shares in the last quarter. SG Americas Securities LLC bought a new position in DURECT Corporation during the 1st quarter worth approximately $147,000. TIAA CREF Investment Management LLC lifted its holdings in DURECT Corporation by 2.2% during the 1st quarter. TIAA CREF Investment Management LLC now owns 423,625 shares of the specialty pharmaceutical company’s stock worth $445,000 after buying an additional 9,289 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in DURECT Corporation by 2.6% during the 1st quarter. Geode Capital Management LLC now owns 985,630 shares of the specialty pharmaceutical company’s stock worth $1,034,000 after buying an additional 24,869 shares during the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

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About DURECT Corporation

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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