Wall Street brokerages forecast that DURECT Co. (NASDAQ:DRRX) will announce ($0.04) earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have provided estimates for DURECT’s earnings, with estimates ranging from ($0.05) to ($0.04). DURECT posted earnings per share of ($0.01) during the same quarter last year, which indicates a negative year over year growth rate of 300%. The company is scheduled to announce its next earnings results on Monday, November 2nd.
According to Zacks, analysts expect that DURECT will report full-year earnings of ($0.07) per share for the current fiscal year, with EPS estimates ranging from ($0.08) to ($0.05). For the next financial year, analysts forecast that the business will post earnings of ($0.21) per share, with EPS estimates ranging from ($0.27) to ($0.17). Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover DURECT.
DURECT (NASDAQ:DRRX) last announced its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.05. DURECT had a negative return on equity of 7.69% and a negative net margin of 3.66%. The company had revenue of $25.84 million during the quarter, compared to the consensus estimate of $19.76 million.
A number of research firms have weighed in on DRRX. ValuEngine downgraded shares of DURECT from a “buy” rating to a “hold” rating in a research note on Thursday, July 2nd. B. Riley reiterated a “buy” rating and set a $5.00 target price on shares of DURECT in a research report on Monday, June 29th. HC Wainwright upped their target price on shares of DURECT from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Oppenheimer assumed coverage on shares of DURECT in a research note on Thursday, July 30th. They set an “outperform” rating and a $7.00 price target for the company. Finally, TheStreet raised DURECT from a “d-” rating to a “c-” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $4.60.
Shares of NASDAQ DRRX traded down $0.08 during trading hours on Tuesday, reaching $1.62. The stock had a trading volume of 1,081,997 shares, compared to its average volume of 1,121,167. The company has a market cap of $324.93 million, a price-to-earnings ratio of -162.00 and a beta of 1.90. DURECT has a twelve month low of $0.95 and a twelve month high of $3.95. The business’s fifty day moving average is $2.10 and its two-hundred day moving average is $2.05. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.80 and a quick ratio of 5.47.
In other DURECT news, major shareholder Lp Bleichroeder sold 250,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $1.68, for a total value of $420,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in DRRX. Vanguard Group Inc. boosted its stake in DURECT by 12.0% in the second quarter. Vanguard Group Inc. now owns 10,030,709 shares of the specialty pharmaceutical company’s stock worth $23,272,000 after purchasing an additional 1,073,699 shares in the last quarter. Beirne Wealth Consulting Services LLC raised its holdings in shares of DURECT by 3.4% in the second quarter. Beirne Wealth Consulting Services LLC now owns 1,975,650 shares of the specialty pharmaceutical company’s stock valued at $4,584,000 after buying an additional 65,000 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of DURECT by 8.7% in the first quarter. Geode Capital Management LLC now owns 1,653,125 shares of the specialty pharmaceutical company’s stock valued at $2,561,000 after buying an additional 132,045 shares during the last quarter. Acadian Asset Management LLC lifted its position in DURECT by 10.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,258,850 shares of the specialty pharmaceutical company’s stock worth $1,950,000 after buying an additional 122,548 shares in the last quarter. Finally, Jefferies Group LLC grew its holdings in DURECT by 8.0% during the 2nd quarter. Jefferies Group LLC now owns 1,025,653 shares of the specialty pharmaceutical company’s stock worth $2,380,000 after acquiring an additional 75,933 shares during the last quarter. 56.80% of the stock is owned by hedge funds and other institutional investors.
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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