The stock of DURECT Corporation (NASDAQ:DRRX) is now priced at $1.82 and the shares are -0.07 points down or -3.7% lower compared to its previous closing price of $1.89. The stock had 1.036 million contracts set over the past session. DRRX shares’ daily volume is compared to its average trading volume at 1.75 million shares. However, it has a float of 179 million and although its performance was -12.08% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the DRRX share price recently placing at $1.81 to $1.92. However, some brokerage firms have priced the stock below the average, including one that has called $5.

The shorts are running away from the DURECT Corporation stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the DRRX shares have declined. Short interest in the stock represents just 6.16% of its float, but the volume has dropped by -957755. The volume of shorted shares dropped to 11.004 million from 11.962 million shares over the last two weeks. The average intraday trading volume has been 1.887 million shares, which means that days to cover moved to roughly 5.832554.

In the last trading session, DURECT Corporation (NASDAQ:DRRX) dropped by -$0.25 over the week and lost -$0.14 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.949. The stock recorded its established 52-week high on 12/31/19.

Since 03/18/20, the stock has traded to a low of $0.9502 at 91.54%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.94. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, DURECT Corporation’s two-week RSI is 28.51. This suggests that the stock is overbought at the moment and that DRRX shares’ price movement remains not stable. The stochastic readings are equally revealing at 5.97% meaning the DRRX share price is currently in overbought territory.

The technical chart shows that the DRRX stock will likely settle at between $1.89 and $1.96 per share. However, if the stock dips below $1.78, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.74.

Currently, the stock is trading in the red of MACD, with a reading of -0.1644. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.

Analysts at Maxim Group assigned DRRX a rating of Outperform in their intiating review released on July 31. B. Riley FBR analysts see the stock as a Buy with a target price of $5 in a flash note released to investors on January 31 initiating covering the stock. Cantor Fitzgerald analysts see the stock as Overweight when the analysts resumed the share price coverage on November 18.

The average rating for the DRRX equity is 2 and is currently gathering a bullish momentum. Of 4 analysts tracking DURECT Corporation polled by Reuters, 0 rated DRRX as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.

Zacks Consensus Estimate forecasts that the current-quarter revenues for DURECT Corporation (NASDAQ:DRRX) will decrease by about -99.99%, which will see them reach $3.65 million. The company’s full-year revenues are, however, expected to increase by about 23.21%, up from $29.56 million to $36.42 million. DRRX’s expected adjusted earnings should surge almost 300% to end up at -$0.04 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -50% to record -$0.06/share.