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

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Wall Street brokerages expect DURECT Co. (NASDAQ:DRRX) to post ($0.03) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for DURECT’s earnings, with estimates ranging from ($0.05) to ($0.02). DURECT reported earnings per share of $0.04 in the same quarter last year, which suggests a negative year over year growth rate of 175%. The business is expected to report its next earnings report after the market closes on Wednesday, November 7th.

On average, analysts expect that DURECT will report full year earnings of ($0.19) per share for the current fiscal year, with EPS estimates ranging from ($0.20) to ($0.17). For the next year, analysts expect that the firm will post earnings of ($0.18) per share, with EPS estimates ranging from ($0.22) to ($0.12). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow DURECT.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $3.00 price target on shares of DURECT in a research report on Tuesday, July 31st.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in DURECT by 0.7% during the second quarter. BlackRock Inc. now owns 11,565,236 shares of the specialty pharmaceutical company’s stock worth $18,040,000 after purchasing an additional 84,464 shares during the last quarter. Ingalls & Snyder LLC increased its position in DURECT by 0.8% during the third quarter. Ingalls & Snyder LLC now owns 8,718,904 shares of the specialty pharmaceutical company’s stock worth $9,591,000 after purchasing an additional 70,700 shares during the last quarter. Renaissance Technologies LLC increased its position in DURECT by 85.3% during the second quarter. Renaissance Technologies LLC now owns 3,269,494 shares of the specialty pharmaceutical company’s stock worth $5,100,000 after purchasing an additional 1,504,894 shares during the last quarter. Northern Trust Corp increased its position in DURECT by 10.1% during the second quarter. Northern Trust Corp now owns 1,777,511 shares of the specialty pharmaceutical company’s stock worth $2,773,000 after purchasing an additional 162,977 shares during the last quarter. Finally, Gagnon Securities LLC increased its position in DURECT by 31.7% during the second quarter. Gagnon Securities LLC now owns 1,483,035 shares of the specialty pharmaceutical company’s stock worth $2,314,000 after purchasing an additional 356,882 shares during the last quarter. 47.68% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:DRRX traded up $0.05 during trading on Wednesday, reaching $1.02. The stock had a trading volume of 391,370 shares, compared to its average volume of 680,882. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.60 and a quick ratio of 3.36. The firm has a market cap of $162.00 million, a PE ratio of -34.00 and a beta of 0.91. DURECT has a fifty-two week low of $0.87 and a fifty-two week high of $2.55.

About DURECT

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.

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