Equities research analysts forecast that DURECT Corporation (NASDAQ:DRRX) will announce ($0.05) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for DURECT Corporation’s earnings, with estimates ranging from ($0.06) to ($0.04). DURECT Corporation reported earnings of ($0.06) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.7%. The company is expected to report its next earnings results on Monday, October 30th.
According to Zacks, analysts expect that DURECT Corporation will report full-year earnings of ($0.20) per share for the current year, with EPS estimates ranging from ($0.24) to ($0.15). For the next year, analysts anticipate that the firm will report earnings of ($0.12) per share, with EPS estimates ranging from ($0.13) to ($0.11). Zacks’ EPS averages are an average based on a survey of analysts that follow DURECT Corporation.
DURECT Corporation (NASDAQ:DRRX) last announced its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.02). DURECT Corporation had a negative net margin of 221.01% and a negative return on equity of 629.35%. The business had revenue of $4.32 million for the quarter, compared to analysts’ expectations of $5.17 million.
DRRX has been the subject of several recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of DURECT Corporation in a report on Sunday, June 25th. Stifel Nicolaus raised shares of DURECT Corporation from a “hold” rating to a “buy” rating and lifted their target price for the company from $1.25 to $3.00 in a report on Wednesday, July 12th. Finally, ValuEngine raised shares of DURECT Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th.
Institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC boosted its position in shares of DURECT Corporation by 22.8% during the 2nd quarter. Voya Investment Management LLC now owns 82,826 shares of the specialty pharmaceutical company’s stock valued at $129,000 after acquiring an additional 15,394 shares during the last quarter. State of Wisconsin Investment Board acquired a new position in shares of DURECT Corporation during the 2nd quarter valued at about $151,000. Tower Research Capital LLC TRC acquired a new position in shares of DURECT Corporation during the 1st quarter valued at about $118,000. The Manufacturers Life Insurance Company boosted its position in shares of DURECT Corporation by 12.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 120,977 shares of the specialty pharmaceutical company’s stock valued at $189,000 after acquiring an additional 13,072 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of DURECT Corporation during the 1st quarter valued at about $147,000. 45.82% of the stock is owned by institutional investors and hedge funds.
Shares of DURECT Corporation (DRRX) traded down 4.19% during mid-day trading on Friday, reaching $1.83. 238,597 shares of the company’s stock were exchanged. DURECT Corporation has a one year low of $0.74 and a one year high of $2.17. The company’s 50-day moving average price is $1.74 and its 200-day moving average price is $1.43. The company’s market capitalization is $269.01 million.
About DURECT Corporation
Durect Corporation is a biopharmaceutical company with research and development programs. The Company’s products candidates include DUR-928, oral for metabolic/lipid disorders, and DUR-928, injectable for acute organ injuries. Its other product candidates include POSIMIR (controlled release injection of bupivacaine), REMOXY (oral controlled release oxycodone), ORADUR-ADHD, ELADUR (controlled release injection of bupivicane), Relday (risperidone), ORADUR-based opioid (hydromorphone) and SABER-based ophthalmic.
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