Mackay Shields LLC grew its stake in shares of DURECT Co. (NASDAQ:DRRX) by 45.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 249,100 shares of the specialty pharmaceutical company’s stock after acquiring an additional 77,700 shares during the quarter. Mackay Shields LLC owned about 0.15% of DURECT worth $389,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Jane Street Group LLC increased its holdings in shares of DURECT by 235.1% during the first quarter. Jane Street Group LLC now owns 48,827 shares of the specialty pharmaceutical company’s stock valued at $104,000 after acquiring an additional 34,255 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of DURECT during the first quarter valued at $131,000. MetLife Investment Advisors LLC purchased a new stake in shares of DURECT during the first quarter valued at $158,000. Engineers Gate Manager LP purchased a new stake in shares of DURECT during the first quarter valued at $218,000. Finally, Alps Advisors Inc. purchased a new stake in shares of DURECT during the second quarter valued at $366,000. Hedge funds and other institutional investors own 47.80% of the company’s stock.

DURECT stock opened at $1.29 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.36 and a current ratio of 3.60. DURECT Co. has a one year low of $0.75 and a one year high of $2.55.

DURECT (NASDAQ:DRRX) last released its quarterly earnings data on Wednesday, August 1st. The specialty pharmaceutical company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. DURECT had a negative return on equity of 4.27% and a negative net margin of 2.04%. The company had revenue of $3.41 million for the quarter, compared to analysts’ expectations of $3.83 million. research analysts expect that DURECT Co. will post -0.19 earnings per share for the current fiscal year.

Several research firms recently commented on DRRX. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price objective on shares of DURECT in a research report on Tuesday, July 31st. BidaskClub cut DURECT from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. DURECT has an average rating of “Hold” and an average target price of $2.50.

DURECT Company Profile

DURECT Corporation, a biopharmaceutical company, researches and develops medicines based on its epigenetic regulator and drug delivery programs. The company offers ALZET product line that consists of osmotic pumps and accessories used for experimental research in mice, rats, and other laboratory animals; and a range of biodegradable polymers for use as raw materials in their products for pharmaceutical and medical devices under the LACTEL brand.

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Institutional Ownership by Quarter for DURECT (NASDAQ:DRRX)

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