$2.83 Million in Sales Expected for DURECT Co. (NASDAQ:DRRX) This Quarter


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Equities analysts expect that DURECT Co. (NASDAQ:DRRX) will report $2.83 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for DURECT’s earnings, with estimates ranging from $1.75 million to $3.47 million. DURECT reported sales of $2.78 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.8%. The firm is expected to report its next quarterly earnings results on Monday, May 10th.

On average, analysts expect that DURECT will report full year sales of $29.00 million for the current year, with estimates ranging from $8.00 million to $96.00 million. For the next fiscal year, analysts expect that the company will post sales of $26.19 million, with estimates ranging from $15.30 million to $40.28 million. Zacks’ sales averages are a mean average based on a survey of research firms that cover DURECT.

DURECT (NASDAQ:DRRX) last released its quarterly earnings results on Wednesday, March 3rd. The specialty pharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The firm had revenue of $2.21 million for the quarter, compared to analysts’ expectations of $6.67 million. DURECT had a negative return on equity of 33.98% and a negative net margin of 21.85%.

A number of research firms have weighed in on DRRX. Zacks Investment Research raised DURECT from a “sell” rating to a “hold” rating in a research report on Tuesday, March 9th. Chardan Capital increased their price objective on DURECT from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, February 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $5.83.

NASDAQ:DRRX traded up $0.01 during mid-day trading on Monday, reaching $1.82. 9,071 shares of the stock were exchanged, compared to its average volume of 2,214,078. DURECT has a 1 year low of $1.46 and a 1 year high of $2.96. The company has a 50 day simple moving average of $2.19 and a 200-day simple moving average of $2.05. The company has a quick ratio of 5.57, a current ratio of 5.95 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $413.51 million, a P/E ratio of -36.19 and a beta of 1.76.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of DURECT by 0.7% in the 4th quarter. BlackRock Inc. now owns 14,159,676 shares of the specialty pharmaceutical company’s stock valued at $29,310,000 after buying an additional 103,837 shares during the period. State Street Corp lifted its holdings in shares of DURECT by 4.9% in the 3rd quarter. State Street Corp now owns 3,273,148 shares of the specialty pharmaceutical company’s stock valued at $5,597,000 after buying an additional 151,642 shares during the period. CM Management LLC acquired a new stake in shares of DURECT in the 4th quarter valued at approximately $5,486,000. Beirne Wealth Consulting Services LLC lifted its holdings in shares of DURECT by 4.3% in the 4th quarter. Beirne Wealth Consulting Services LLC now owns 2,233,235 shares of the specialty pharmaceutical company’s stock valued at $4,623,000 after buying an additional 92,585 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in shares of DURECT by 6.4% in the 4th quarter. Nuveen Asset Management LLC now owns 1,000,578 shares of the specialty pharmaceutical company’s stock valued at $2,071,000 after buying an additional 60,612 shares during the period. 53.83% of the stock is owned by institutional investors and hedge funds.

About DURECT

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 research in mice, rats, and other laboratory animals. It also develops DUR-928, an endogenous, orally bioavailable small molecule that is in Phase IIb clinical trial to play a regulatory role in lipid homeostasis, inflammation, and cell survival, as well as completed Phase Ib clinical trial to treat patients with nonalcoholic steatohepatitis.

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