DURECT Co. (NASDAQ:DRRX) major shareholder First Eagle Investment Managem acquired 4,000,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were bought at an average cost of $0.52 per share, with a total value of $2,080,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
NASDAQ DRRX opened at $0.66 on Wednesday. DURECT Co. has a 12 month low of $0.46 and a 12 month high of $1.98. The company’s 50-day moving average is $0.62. The company has a debt-to-equity ratio of 1.82, a quick ratio of 3.39 and a current ratio of 3.74. The firm has a market cap of $99.04 million, a P/E ratio of -4.10 and a beta of 1.88.
DURECT (NASDAQ:DRRX) last posted its quarterly earnings data on Tuesday, May 7th. The specialty pharmaceutical company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. DURECT had a negative net margin of 125.76% and a negative return on equity of 108.92%. The company had revenue of $4.13 million during the quarter, compared to the consensus estimate of $3.50 million. On average, analysts expect that DURECT Co. will post -0.19 EPS for the current fiscal year.
Separately, HC Wainwright reaffirmed a “buy” rating and set a $3.50 price objective on shares of DURECT in a research note on Thursday, May 9th.
DURECT Company Profile
DURECT Corporation, a biopharmaceutical company, researches and develops medicines based on its epigenetic regulator and pharmaceutical 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 pharmaceutical and medical device clients for use as raw materials in their products under the LACTEL brand.
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