DURECT Corporation (NASDAQ: DRRX): Stock That Needs Special Handling

And Renaissance Technologies LLC has lifted its position by 23.44% or 0.99 million shares – to 5.21 million shares. With over 0.61 million DURECT …

Lion Point Capital LP recently announced the acquisition of new stake in DURECT Corporation (NASDAQ:DRRX). The institutional investor has increased its shareholding in the Healthcare company by 3.96% to 19.49 million shares with purchase of 0.74 million shares. This fresh investment now brings its stake to 9.94% valued currently at $45.22 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.68 million to 8.86 million shares. And Renaissance Technologies LLC has lifted its position by 23.44% or 0.99 million shares – to 5.21 million shares.

With over 0.61 million DURECT Corporation (DRRX) shares trading Tuesday and a closing price of $1.98 on the day, the dollar volume was approximately $1.21 million. The shares have shown a negative weekly performance of -5.71% and its price on 07/28/20 lost nearly -3.88%. Currently, there are 195.75M common shares owned by the public and among those 192.80M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for DRRX have a consensus price objective of $5.33. The analysts have set the share’s price value over the next 12 months at a high of $6.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the DURECT Corporation stock is 2.00 for the next 12 months. But an upside of 67.0% will see the stock hit the forecast high price target while mean target price for the stock is $5.00.

Insiders at the company have transacted a total of 8 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 5 of these insider trades were purchases, accounting for 285,318 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 97,208 shares.

The top 3 mutual fund holders in DURECT Corporation are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 5.7 million shares of the company’s stock, all valued at over $13.23 million. iShares Russell 2000 ETF sold -0.1 million shares to see its total holdings shrink to 4.07 million shares valued at over $9.43 million and representing 2.07% of the shares outstanding. Vanguard Extended Market Index Fu bought 26362.0 shares to bring its total holdings to over 2.88 million shares at a value of $6.67 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.47% of the shares outstanding.

Shares of DURECT Corporation (NASDAQ: DRRX) opened at $2.03, down -$0.03 from a prior closing price of $2.06. However, the script later closed the day at $1.98, down -3.88%. The company’s stock has a 5-day price change of -5.71% and -10.00% over the past three months. DRRX shares are trading -47.89% year to date (YTD), with the 12-month market performance up to 103.08% higher. It has a 12-month low price of $0.94 and touched a high of $3.95 over the same period. Currently, 0.61 million shares have been traded, compared to an average intraday trading volume of 1.68 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.60%, -14.46%, and -4.56% respectively.

Institutional ownership of DURECT Corporation (NASDAQ: DRRX) shares accounts for 50.70% of the company’s 195.75M shares outstanding. Mutual fund holders own 32.32%, while other institutional holders and individual stakeholders account for 39.59% and 10.49% respectively.

It has a market capitalization of $395.90M and a beta (3y monthly) value of 2.10. The earnings-per-share (ttm) stands at -$0.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.35% over the week and 6.74% over the month.

Analysts forecast that DURECT Corporation (DRRX) will achieve an EPS of $0 for the current quarter, -$0.04 for the next quarter and -$0.21 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.05 while analysts give the company a high EPS estimate of $0.07. Comparatively, EPS for the current quarter was -$0.04 a year ago. Earnings per share for the fiscal year are expected to increase by 27.00%, and -50.00% over the next financial year. EPS should grow at an annualized rate of 16.00% over the next five years, compared to 10.20% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate DURECT Corporation (DRRX) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the DRRX, a number of firms have released research notes about the stock. B. Riley FBR stated their Buy rating for the stock in a research note on January 31, 2020, with the firm’s price target at $5. Cantor Fitzgerald coverage for the DURECT Corporation (DRRX) stock in a research note released on November 18, 2019 offered a Overweight rating with a price target of. Cantor Fitzgerald was of a view on September 06, 2019 that the stock is Overweight, while H.C. Wainwright gave the stock Buy rating on March 06, 2018, issuing a price target of $3.50. Laidlaw on their part issued Buy rating on October 20, 2017.

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