DURECT Corporation (NASDAQ:DRRX) shares dropped 13% during mid-day trading on Tuesday . The company traded as low as $0.90 and last traded at $1.04. Approximately 950,598 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 1,250,000 shares. The stock had previously closed at $0.92.

DRRX has been the topic of a number of research analyst reports. Stifel Nicolaus upgraded shares of DURECT Corporation from a “hold” rating to a “buy” rating and raised their target price for the company from $1.25 to $3.00 in a research note on Wednesday, July 12th. Laidlaw lowered their target price on shares of DURECT Corporation from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday, October 20th. ValuEngine lowered shares of DURECT Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 21st. Finally, HC Wainwright lowered shares of DURECT Corporation from a “buy” rating to a “neutral” rating and set a $3.00 target price on the stock. in a research note on Friday, October 20th.

The company has a debt-to-equity ratio of 1.46, a current ratio of 1.67 and a quick ratio of 1.57.

DURECT Corporation (NASDAQ:DRRX) last posted its earnings results on Wednesday, November 1st. The specialty pharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. DURECT Corporation had a negative net margin of 62.57% and a negative return on equity of 419.65%. The business had revenue of $20.75 million for the quarter, compared to analyst estimates of $5.09 million. equities research analysts anticipate that DURECT Corporation will post -0.14 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC grew its position in DURECT Corporation by 22.8% in the 2nd 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 last quarter. SG Americas Securities LLC acquired a new stake in DURECT Corporation in the 1st quarter worth $147,000. State of Wisconsin Investment Board acquired a new stake in DURECT Corporation in the 2nd quarter worth $151,000. The Manufacturers Life Insurance Company grew its position in DURECT Corporation by 12.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 120,977 shares of the specialty pharmaceutical company’s stock worth $189,000 after purchasing an additional 13,072 shares during the last quarter. Finally, Rhumbline Advisers grew its position in DURECT Corporation by 12.0% in the 2nd 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 last quarter. Institutional investors own 46.51% of the company’s stock.

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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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