DURECT Co. (DRRX) Expected to Post Earnings of -$0.03 Per Share

Equities analysts expect DURECT Co. (NASDAQ:DRRX) to report earnings per share (EPS) of ($0.03) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for DURECT’s earnings, with the lowest EPS estimate coming in at ($0.05) and the highest estimate coming in at ($0.02). DURECT reported earnings per share of $0.04 in the same quarter last year, which would indicate a negative year-over-year growth rate of 175%. The business is scheduled to announce its next quarterly earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that DURECT will report full year earnings of ($0.19) per share for the current financial year, with EPS estimates ranging from ($0.20) to ($0.17). For the next fiscal year, analysts forecast that the company will post earnings of ($0.18) per share, with EPS estimates ranging from ($0.22) to ($0.12). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow DURECT.

DURECT (NASDAQ:DRRX) last posted its quarterly earnings data on Wednesday, August 1st. The specialty pharmaceutical company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. DURECT had a negative return on equity of 4.27% and a negative net margin of 2.04%. The business had revenue of $3.41 million for the quarter, compared to analyst estimates of $3.83 million.

Several research firms recently commented on DRRX. BidaskClub lowered DURECT from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of DURECT in a report on Tuesday, July 31st. One investment 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’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $2.50.

NASDAQ:DRRX traded down $0.03 during trading hours on Monday, hitting $1.14. The company’s stock had a trading volume of 195,922 shares, compared to its average volume of 258,919. The firm has a market capitalization of $197.64 million, a PE ratio of -38.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.60 and a quick ratio of 3.36. DURECT has a 52-week low of $0.75 and a 52-week high of $2.55.

A number of large investors have recently bought and sold shares of the stock. Jane Street Group LLC increased its holdings in DURECT by 235.1% in the first quarter. Jane Street Group LLC now owns 48,827 shares of the specialty pharmaceutical company’s stock valued at $104,000 after buying an additional 34,255 shares during the last quarter. Northern Trust Corp increased its holdings in DURECT by 3.0% in the first quarter. Northern Trust Corp now owns 1,614,534 shares of the specialty pharmaceutical company’s stock valued at $3,455,000 after buying an additional 46,352 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in DURECT in the first quarter valued at $131,000. MetLife Investment Advisors LLC purchased a new position in DURECT in the first quarter valued at $158,000. Finally, Mackay Shields LLC increased its holdings in DURECT by 45.3% in the second quarter. Mackay Shields LLC now owns 249,100 shares of the specialty pharmaceutical company’s stock valued at $389,000 after buying an additional 77,700 shares during the last quarter. 47.80% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: Exchange-Traded Funds (ETFs)

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.

Leave a Reply