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Hot Stock: Durect, Shares Gain 6.3% (DRRX)

By Amy Schwartz

Durect (NASDAQ:DRRX) is one of today's best performing low-priced stocks, up 6.3% to $2.04 on 1.0x average daily volume. Thus far today, Durect has traded 1.2 million shares, vs. average volume of 1.2 million shares per day. The stock has outperformed the Dow (6.3% to the Dow's 0.9%) and outperformed the S&P 500 (6.3% to the S&P's 0.9%) during today's trading.

Durect Corporation develops and commercializes pharmaceutical systems for the treatment of chronic diseases. The pharmaceutical systems provide therapy for chronic diseases or conditions by replacing multiple injection therapy or oral dosing, improving drug efficacy, reducing side effects, and ensuring dosing compliance.

In the past 52 weeks, Durect share prices have been bracketed by a low of $0.76 and a high of $2.29 and are now at $2.04, 168% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 1.5%.

Potential upside of 22.5% exists for Durect, based on a current level of $2.04 and analysts' average consensus price target of $2.50. Durect shares have support at the 50-day moving average (MA) of $1.81 and additional support at the 200-day MA of $1.36.

SmarTrend recommended that subscribers consider buying shares of Durect on June 26th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1.05. Since that recommendation, shares of Durect have risen 82.9%. We continue to monitor DRRX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: penny stocks durect

Ticker(s): DRRX