Analysts predict that DURECT Co. (NASDAQ:DRRX) will post $4.03 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for DURECT’s earnings. The lowest sales estimate is $3.25 million and the highest is $4.60 million. DURECT posted sales of $10.76 million in the same quarter last year, which indicates a negative year-over-year growth rate of 62.5%. The business is expected to report its next earnings results on Monday, November 2nd.
On average, analysts expect that DURECT will report full-year sales of $37.37 million for the current fiscal year, with estimates ranging from $36.43 million to $38.30 million. For the next year, analysts forecast that the business will report sales of $20.26 million, with estimates ranging from $17.90 million to $23.37 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for DURECT.
DURECT (NASDAQ:DRRX) last released its quarterly earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $25.84 million for the quarter, compared to analysts’ expectations of $19.76 million. DURECT had a negative return on equity of 7.69% and a negative net margin of 3.66%.
A number of equities research analysts recently issued reports on DRRX shares. BidaskClub lowered DURECT from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. B. Riley reaffirmed a “buy” rating and issued a $5.00 target price on shares of DURECT in a research note on Monday, June 29th. Oppenheimer started coverage on DURECT in a research note on Thursday, July 30th. They issued an “outperform” rating and a $7.00 target price on the stock. ValuEngine lowered DURECT from a “buy” rating to a “hold” rating in a research note on Thursday, July 2nd. Finally, HC Wainwright upped their target price on DURECT from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $4.60.
In other DURECT news, major shareholder Lp Bleichroeder sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $1.68, for a total value of $420,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of DURECT by 12.0% in the 2nd quarter. Vanguard Group Inc. now owns 10,030,709 shares of the specialty pharmaceutical company’s stock valued at $23,272,000 after purchasing an additional 1,073,699 shares during the last quarter. Beirne Wealth Consulting Services LLC increased its holdings in shares of DURECT by 3.4% during the 2nd quarter. Beirne Wealth Consulting Services LLC now owns 1,975,650 shares of the specialty pharmaceutical company’s stock worth $4,584,000 after purchasing an additional 65,000 shares during the period. Geode Capital Management LLC increased its holdings in shares of DURECT by 8.7% during the 1st quarter. Geode Capital Management LLC now owns 1,653,125 shares of the specialty pharmaceutical company’s stock worth $2,561,000 after purchasing an additional 132,045 shares during the period. Acadian Asset Management LLC increased its holdings in shares of 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 purchasing an additional 122,548 shares during the period. Finally, Jefferies Group LLC increased its holdings in shares of 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 purchasing an additional 75,933 shares during the period. Institutional investors and hedge funds own 56.80% of the company’s stock.
Shares of DRRX traded down $0.08 on Thursday, reaching $1.62. The stock had a trading volume of 1,081,997 shares, compared to its average volume of 1,121,167. DURECT has a twelve month low of $0.95 and a twelve month high of $3.95. The company has a quick ratio of 5.47, a current ratio of 5.80 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average of $2.10 and a 200 day moving average of $2.05. The firm has a market capitalization of $324.93 million, a PE ratio of -162.00 and a beta of 1.90.
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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