DURECT (NASDAQ:DRRX) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• DURECT Corporation's stock price recently surpassed its two-hundred day moving average of $0.86, reaching a high of $1.95 during trading.
• The company reported a quarterly earnings per share of ($0.07), which exceeded analysts' expectations of ($0.13), along with revenues of $0.45 million.
• Analysts currently have a consensus rating of "Hold" on DURECT stock, with Northland Capital Markets recently downgrading its rating from "strong-buy" to "hold."

DURECT Corporation (NASDAQ:DRRX - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.86 and traded as high as $1.95. DURECT shares last traded at $1.93, with a volume of 381,934 shares.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Northland Capmk lowered shares of DURECT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Wall Street Zen started coverage on shares of DURECT in a research report on Thursday, May 22nd. They set a "sell" rating for the company. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, DURECT currently has a consensus rating of "Hold".

DURECT Price Performance

The firm has a market cap of $59.93 million, a price-to-earnings ratio of -19.30 and a beta of 0.83. The firm's fifty day moving average is $1.15 and its two-hundred day moving average is $0.86.

DURECT (NASDAQ:DRRX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The specialty pharmaceutical company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.06. The business had revenue of $0.45 million during the quarter, compared to the consensus estimate of $0.32 million. DURECT had a negative net margin of 96.19% and a negative return on equity of 259.16%. On average, equities analysts forecast that DURECT Corporation will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DURECT

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ingalls & Snyder LLC lifted its holdings in DURECT by 1.1% in the 2nd quarter. Ingalls & Snyder LLC now owns 1,349,435 shares of the specialty pharmaceutical company's stock valued at $857,000 after acquiring an additional 14,637 shares during the last quarter. Beirne Wealth Consulting Services LLC lifted its holdings in DURECT by 6.0% in the 2nd quarter. Beirne Wealth Consulting Services LLC now owns 314,150 shares of the specialty pharmaceutical company's stock valued at $200,000 after acquiring an additional 17,800 shares during the last quarter. Jane Street Group LLC lifted its holdings in DURECT by 266.0% in the 4th quarter. Jane Street Group LLC now owns 39,196 shares of the specialty pharmaceutical company's stock valued at $29,000 after acquiring an additional 28,486 shares during the last quarter. Richmond Brothers Inc. lifted its holdings in DURECT by 5.1% in the 1st quarter. Richmond Brothers Inc. now owns 1,346,406 shares of the specialty pharmaceutical company's stock valued at $1,080,000 after acquiring an additional 65,230 shares during the last quarter. Finally, Dalton Investments Inc. lifted its holdings in DURECT by 45.4% in the 2nd quarter. Dalton Investments Inc. now owns 745,000 shares of the specialty pharmaceutical company's stock valued at $473,000 after acquiring an additional 232,688 shares during the last quarter. 28.03% of the stock is owned by institutional investors and hedge funds.

About DURECT

DURECT Corporation, a biopharmaceutical company, develops medicines based on its epigenetic regulator program. The company's lead product larsucosterol (DUR-928), an endogenous, orally bioavailable small molecule that is in Phase IIb clinical trial to play a regulatory role in lipid metabolism, stress and inflammatory responses, and cell death and survival to treat alcohol-associated hepatitis, as well as completed Phase Ib clinical trial to treat patients with nonalcoholic steatohepatitis.

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