Zazove Associates Lowers stake in DURECT Corporation (DRRX)

DURECT Corporation (DRRX) : Zazove Associates reduced its stake in DURECT Corporation by 8.32% during the most recent quarter end. The investment management company now holds a total of 256,861 shares of DURECT Corporation which is valued at $308,233 after selling 23,300 shares in DURECT Corporation , the firm said in a disclosure report filed with the SEC on May 12, 2016.DURECT Corporation makes up approximately 0.21% of Zazove Associates’s portfolio.

Other Hedge Funds, Including , Sg Americas Securities boosted its stake in DRRX in the latest quarter, The investment management firm added 47,818 additional shares and now holds a total of 71,383 shares of DURECT Corporation which is valued at $85,660.New York State Common Retirement Fund boosted its stake in DRRX in the latest quarter, The investment management firm added 9,498 additional shares and now holds a total of 172,582 shares of DURECT Corporation which is valued at $201,921.Gagnon Securities boosted its stake in DRRX in the latest quarter, The investment management firm added 8,735 additional shares and now holds a total of 822,625 shares of DURECT Corporation which is valued at $962,471. DURECT Corporation makes up approx 0.48% of Gagnon Securities’s portfolio.Regis Management Co boosted its stake in DRRX in the latest quarter, The investment management firm added 18,000 additional shares and now holds a total of 134,250 shares of DURECT Corporation which is valued at $157,073. DURECT Corporation makes up approx 0.03% of Regis Management Co’s portfolio.

DURECT Corporation opened for trading at $1.16 and hit $1.17 on the upside on Friday, eventually ending the session at $1.16, with a gain of 1.75% or 0.02 points. The heightened volatility saw the trading volume jump to 4,05,684 shares. Company has a market cap of $159 M.

Many Wall Street Analysts have commented on DURECT Corporation. Rodman & Renshaw Initiated DURECT Corporation on Apr 25, 2016 to “Buy”, Price Target of the shares are set at $4.

Durect Corporation is a specialty pharmaceutical company. The Company is focused on the development of pharmaceuticals based on its drug delivery technology platforms chemical entities derived from its Epigenomic Regulator Program and its engagement in drug development. Its research and development programs fall into one of two categories: Drug Delivery Programs in which it applies its formulation and technologies to pharmaceutical ingredients and New Chemical Entities derived from its Epigenomic Regulator Program in which it discovers and develops molecules. It also manufactures and sells osmotic pumps and biodegradable polymers and excipients for pharmaceutical and medical device clients for use as raw materials in their products. Its product pipeline consists of seven investigational drug candidates in clinical development: REMOXY (ORADUR-Oxycodone) POSIDUR (SABER-Bupivacaine) ELADUR (TRANSDUR-Bupivacaine) Relday ORADUR-ADHD ORADUR-Opioid and SABER-based ophthalmic.

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