Zacks: Analysts Expect DURECT Co. (DRRX) Will Announce Quarterly Sales of $6.58 Million

Equities analysts expect DURECT Co. (NASDAQ:DRRX) to post $6.58 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for DURECT’s earnings. The lowest sales estimate is $3.70 million and the highest is $8.60 million. DURECT reported sales of $20.75 million in the same quarter last year, which indicates a negative year-over-year growth rate of 68.3%. The company is expected to announce its next quarterly earnings report on Wednesday, November 7th.

On average, analysts expect that DURECT will report full-year sales of $17.48 million for the current financial year, with estimates ranging from $14.30 million to $20.30 million. For the next year, analysts forecast that the company will post sales of $22.52 million, with estimates ranging from $13.21 million to $37.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for DURECT.

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

DRRX has been the subject of several research analyst reports. BidaskClub downgraded shares of DURECT from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. HC Wainwright restated a “buy” rating and issued a $3.00 price objective on shares of DURECT in a research note on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $2.50.

A number of hedge funds and other institutional investors have recently bought and sold shares of DRRX. 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 in the last quarter. BlackRock Inc. boosted its position in DURECT by 17.8% during the first quarter. BlackRock Inc. now owns 11,480,772 shares of the specialty pharmaceutical company’s stock worth $24,568,000 after acquiring an additional 1,733,644 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in DURECT during the first quarter worth approximately $158,000. Jane Street Group LLC boosted its position in DURECT by 235.1% during the first quarter. Jane Street Group LLC now owns 48,827 shares of the specialty pharmaceutical company’s stock worth $104,000 after acquiring an additional 34,255 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in DURECT during the first quarter worth approximately $131,000. 47.64% of the stock is owned by hedge funds and other institutional investors.

NASDAQ DRRX traded up $0.02 during trading hours on Tuesday, hitting $1.04. The company had a trading volume of 410,430 shares, compared to its average volume of 708,856. 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 1-year low of $0.75 and a 1-year high of $2.55. The company has a market capitalization of $170.10 million, a PE ratio of -34.00 and a beta of 0.88.

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.

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