Wall Street brokerages expect DURECT Co. (NASDAQ:DRRX) to post $3.82 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for DURECT’s earnings. The highest sales estimate is $4.10 million and the lowest is $3.50 million. DURECT posted sales of $3.41 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12%. The firm is expected to report its next earnings results on Wednesday, August 7th.
On average, analysts expect that DURECT will report full year sales of $15.97 million for the current financial year, with estimates ranging from $14.50 million to $17.28 million. For the next financial year, analysts anticipate that the business will post sales of $18.65 million, with estimates ranging from $16.91 million to $20.95 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for DURECT.
DURECT (NASDAQ:DRRX) last posted its quarterly earnings results on Tuesday, May 7th. The specialty pharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The business had revenue of $4.13 million for the quarter, compared to analyst estimates of $3.50 million. DURECT had a negative net margin of 125.76% and a negative return on equity of 108.92%.
Shares of NASDAQ DRRX traded up $0.01 during trading hours on Friday, hitting $0.68. 4,857 shares of the stock were exchanged, compared to its average volume of 874,712. The company has a current ratio of 3.74, a quick ratio of 3.39 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $108.80 million, a price-to-earnings ratio of -4.16 and a beta of 2.02. DURECT has a 1-year low of $0.46 and a 1-year high of $2.25.
In other news, Director Jon S. Saxe purchased 40,400 shares of DURECT stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average price of $0.70 per share, for a total transaction of $28,280.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have purchased a total of 71,700 shares of company stock worth $53,746 in the last quarter. 10.20% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Gagnon Securities LLC boosted its position in DURECT by 6.8% in the first quarter. Gagnon Securities LLC now owns 1,374,538 shares of the specialty pharmaceutical company’s stock valued at $860,000 after buying an additional 87,202 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in DURECT by 22.6% in the first quarter. The Manufacturers Life Insurance Company now owns 100,123 shares of the specialty pharmaceutical company’s stock valued at $62,000 after buying an additional 18,478 shares in the last quarter. State of Wisconsin Investment Board boosted its position in DURECT by 29.7% in the first quarter. State of Wisconsin Investment Board now owns 214,000 shares of the specialty pharmaceutical company’s stock valued at $134,000 after buying an additional 49,000 shares in the last quarter. Wells Fargo & Company MN boosted its position in DURECT by 11.3% in the first quarter. Wells Fargo & Company MN now owns 277,317 shares of the specialty pharmaceutical company’s stock valued at $174,000 after buying an additional 28,084 shares in the last quarter. Finally, Ironwood Investment Management LLC raised its stake in shares of DURECT by 32.0% during the first quarter. Ironwood Investment Management LLC now owns 533,508 shares of the specialty pharmaceutical company’s stock valued at $334,000 after acquiring an additional 129,413 shares during the last quarter. Hedge funds and other institutional investors own 45.71% of the company’s stock.
DURECT Company Profile
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 experimental research in mice, rats, and other laboratory animals; and a range of biodegradable polymers for pharmaceutical and medical device clients for use as raw materials in their products under the LACTEL brand.
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