DURECT Co. (DRRX) Expected to Post Quarterly Sales of $4.60 Million
Equities analysts expect DURECT Co. (NASDAQ:DRRX) to announce $4.60 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for DURECT’s earnings. The lowest sales estimate is $3.00 million and the highest is $7.40 million. DURECT reported sales of $3.52 million in the same quarter last year, which indicates a positive year-over-year growth rate of 30.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, March 13th.
According to Zacks, analysts expect that DURECT will report full year sales of $4.60 million for the current fiscal year, with estimates ranging from $32.63 million to $37.03 million. For the next year, analysts forecast that the company will report sales of $22.67 million per share, with estimates ranging from $14.00 million to $37.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for DURECT.
DURECT (NASDAQ:DRRX) last announced its earnings results on Wednesday, November 1st. The specialty pharmaceutical company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. DURECT had a negative net margin of 62.57% and a negative return on equity of 419.65%. The business had revenue of $20.75 million during the quarter, compared to analysts’ expectations of $5.09 million.
A number of equities research analysts have recently commented on DRRX shares. Laidlaw reduced their target price on shares of DURECT from $3.00 to $2.00 and set a “buy” rating for the company in a report on Friday, October 20th. HC Wainwright reissued a “hold” rating on shares of DURECT in a report on Thursday, November 2nd. Stifel Nicolaus cut shares of DURECT from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Finally, ValuEngine raised shares of DURECT from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th.
Institutional investors and hedge funds have recently modified their holdings of the business. Voya Investment Management LLC grew its position in DURECT by 22.8% during the second quarter. Voya Investment Management LLC now owns 82,826 shares of the specialty pharmaceutical company’s stock worth $129,000 after buying an additional 15,394 shares during the period. State of Wisconsin Investment Board acquired a new position in DURECT during the second quarter worth about $151,000. The Manufacturers Life Insurance Company grew its position in DURECT by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 120,977 shares of the specialty pharmaceutical company’s stock worth $189,000 after buying an additional 13,072 shares during the period. Rhumbline Advisers grew its position in DURECT by 12.0% during the second quarter. Rhumbline Advisers now owns 175,604 shares of the specialty pharmaceutical company’s stock worth $274,000 after buying an additional 18,871 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in DURECT by 61.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 263,476 shares of the specialty pharmaceutical company’s stock worth $467,000 after buying an additional 100,200 shares during the period. Institutional investors own 44.69% of the company’s stock.
Shares of DURECT (NASDAQ:DRRX) traded down $0.02 during trading hours on Friday, hitting $0.92. 608,604 shares of the stock were exchanged, compared to its average volume of 704,768. DURECT has a 1-year low of $0.74 and a 1-year high of $2.17. The company has a quick ratio of 1.57, a current ratio of 1.67 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $138.15, a PE ratio of -6.13 and a beta of 1.69.
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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