Wall Street analysts expect DURECT Co. (NASDAQ:DRRX) to post sales of $3.83 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for DURECT’s earnings, with the lowest sales estimate coming in at $3.50 million and the highest estimate coming in at $4.30 million. DURECT reported sales of $4.32 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 11.3%. The firm is scheduled to issue its next earnings report on Tuesday, August 14th.
According to Zacks, analysts expect that DURECT will report full-year sales of $16.85 million for the current year, with estimates ranging from $14.60 million to $18.50 million. For the next year, analysts forecast that the business will post sales of $21.91 million per share, with estimates ranging from $9.84 million to $42.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover DURECT.
DURECT (NASDAQ:DRRX) last announced its quarterly earnings results on Wednesday, May 2nd. The specialty pharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The business had revenue of $3.49 million for the quarter, compared to the consensus estimate of $4.20 million. DURECT had a negative return on equity of 25.82% and a negative net margin of 8.06%.
Several analysts recently commented on the company. BidaskClub cut DURECT from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. HC Wainwright upgraded DURECT from a “neutral” rating to a “buy” rating and raised their target price for the company from $1.50 to $3.50 in a research report on Tuesday, March 6th. Finally, ValuEngine upgraded DURECT from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $2.83.
A number of institutional investors and hedge funds have recently bought and sold shares of DRRX. BlackRock Inc. increased its position in DURECT by 17.8% in the 1st quarter. BlackRock Inc. now owns 11,480,772 shares of the specialty pharmaceutical company’s stock valued at $24,568,000 after acquiring an additional 1,733,644 shares during the period. Renaissance Technologies LLC increased its position in shares of DURECT by 590.4% during the 4th quarter. Renaissance Technologies LLC now owns 681,400 shares of the specialty pharmaceutical company’s stock valued at $628,000 after purchasing an additional 582,699 shares during the period. Millennium Management LLC increased its position in shares of DURECT by 153.6% during the 1st quarter. Millennium Management LLC now owns 686,685 shares of the specialty pharmaceutical company’s stock valued at $1,470,000 after purchasing an additional 415,925 shares during the period. Algert Global LLC increased its position in shares of DURECT by 338.9% during the 1st quarter. Algert Global LLC now owns 498,711 shares of the specialty pharmaceutical company’s stock valued at $1,067,000 after purchasing an additional 385,088 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of DURECT by 1,095.1% during the 4th quarter. SG Americas Securities LLC now owns 188,328 shares of the specialty pharmaceutical company’s stock valued at $174,000 after purchasing an additional 172,570 shares during the period. Hedge funds and other institutional investors own 44.40% of the company’s stock.
Shares of DURECT opened at $1.57 on Wednesday, according to Marketbeat. The company has a market capitalization of $252.27 million, a P/E ratio of -52.33 and a beta of 1.30. DURECT has a 12-month low of $0.75 and a 12-month high of $2.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.32 and a current ratio of 4.61.
DURECT Company Profile
DURECT Corporation, a biopharmaceutical company, researches and develops medicines based on its epigenetic regulator and drug delivery 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 use as raw materials in their products for pharmaceutical and medical devices under the LACTEL brand.
Get a free copy of the Zacks research report on DURECT (DRRX)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for DURECT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DURECT and related companies with MarketBeat.com's FREE daily email newsletter.