DURECT Corporation (NASDAQ:DRRX) – Research analysts at Zacks Investment Research lowered their FY2018 EPS estimates for shares of DURECT Corporation in a report released on Wednesday. Zacks Investment Research analyst G. Zeng now anticipates that the specialty pharmaceutical company will post earnings of ($0.15) per share for the year, down from their previous forecast of ($0.11). Zacks Investment Research also issued estimates for DURECT Corporation’s FY2019 earnings at ($0.18) EPS and FY2020 earnings at $0.00 EPS.
DURECT Corporation (NASDAQ:DRRX) last issued its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.02). The firm had revenue of $4.32 million during the quarter, compared to analysts’ expectations of $5.17 million. DURECT Corporation had a negative return on equity of 629.35% and a negative net margin of 221.01%. ILLEGAL ACTIVITY NOTICE: “FY2018 Earnings Estimate for DURECT Corporation Issued By Zacks Investment Research (DRRX)” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://www.dispatchtribunal.com/2017/10/28/fy2018-earnings-estimate-for-durect-corporation-issued-by-zacks-investment-research-drrx.html.
A number of other brokerages have also recently commented on DRRX. Stifel Nicolaus raised shares of DURECT Corporation from a “hold” rating to a “buy” rating and upped their target price for the company from $1.25 to $3.00 in a report on Wednesday, July 12th. Laidlaw reduced their target price on shares of DURECT Corporation from $3.00 to $2.00 and set a “buy” rating for the company in a report on Friday, October 20th. HC Wainwright cut shares of DURECT Corporation from a “buy” rating to a “neutral” rating and set a $3.00 target price for the company. in a report on Friday, October 20th. Finally, ValuEngine raised shares of DURECT Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th.
Shares of DURECT Corporation (NASDAQ DRRX) traded down 0.5002% during midday trading on Friday, reaching $0.7758. The company’s stock had a trading volume of 504,713 shares. DURECT Corporation has a 52 week low of $0.74 and a 52 week high of $2.17. The company has a 50 day moving average of $1.64 and a 200-day moving average of $1.46. The stock’s market capitalization is $114.04 million.
Several large investors have recently made changes to their positions in DRRX. Ingalls & Snyder LLC raised its holdings in shares of DURECT Corporation by 213.1% in the second quarter. Ingalls & Snyder LLC now owns 6,419,482 shares of the specialty pharmaceutical company’s stock valued at $10,014,000 after buying an additional 4,369,400 shares during the last quarter. Asymmetry Capital Management L.P. purchased a new stake in shares of DURECT Corporation in the second quarter valued at about $1,636,000. Tocqueville Asset Management L.P. raised its holdings in shares of DURECT Corporation by 48.4% in the second quarter. Tocqueville Asset Management L.P. now owns 1,200,000 shares of the specialty pharmaceutical company’s stock valued at $1,872,000 after buying an additional 391,500 shares during the last quarter. Stonepine Capital Management LLC raised its holdings in shares of DURECT Corporation by 13.4% in the second quarter. Stonepine Capital Management LLC now owns 3,175,994 shares of the specialty pharmaceutical company’s stock valued at $4,955,000 after buying an additional 374,618 shares during the last quarter. Finally, Mangrove Partners purchased a new stake in shares of DURECT Corporation in the second quarter valued at about $530,000. 45.90% of the stock is owned by institutional investors and hedge funds.
DURECT Corporation Company Profile
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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