Zacks: Analysts Expect DURECT Co. (NASDAQ:DRRX) Will Announce Quarterly Sales of $2.18 Million


Equities analysts expect DURECT Co. (NASDAQ:DRRX) to announce sales of $2.18 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for DURECT’s earnings. The highest sales estimate is $2.35 million and the lowest is $2.00 million. DURECT posted sales of $2.68 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 18.7%. The company is scheduled to issue its next earnings results on Monday, November 1st.

On average, analysts expect that DURECT will report full-year sales of $9.09 million for the current financial year, with estimates ranging from $8.52 million to $9.67 million. For the next fiscal year, analysts expect that the business will post sales of $18.23 million, with estimates ranging from $10.00 million to $26.45 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow DURECT.


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DURECT (NASDAQ:DRRX) last released its earnings results on Thursday, July 29th. The specialty pharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). DURECT had a negative net margin of 257.86% and a negative return on equity of 65.09%.

Separately, Zacks Investment Research downgraded shares of DURECT from a “hold” rating to a “sell” rating in a research report on Wednesday, July 28th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $5.75.


Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of DURECT by 4.5% in the 1st quarter. BlackRock Inc. now owns 14,791,545 shares of the specialty pharmaceutical company’s stock valued at $29,287,000 after acquiring an additional 631,869 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of DURECT by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 11,370,665 shares of the specialty pharmaceutical company’s stock valued at $18,534,000 after acquiring an additional 198,525 shares during the last quarter. State Street Corp increased its stake in shares of DURECT by 9.0% in the 2nd quarter. State Street Corp now owns 4,343,280 shares of the specialty pharmaceutical company’s stock valued at $7,080,000 after acquiring an additional 357,972 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of DURECT by 879.2% in the 1st quarter. JPMorgan Chase & Co. now owns 4,198,385 shares of the specialty pharmaceutical company’s stock valued at $8,313,000 after acquiring an additional 3,769,620 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of DURECT by 5.9% in the 2nd quarter. Geode Capital Management LLC now owns 3,747,236 shares of the specialty pharmaceutical company’s stock valued at $6,107,000 after acquiring an additional 208,060 shares during the last quarter. 51.74% of the stock is owned by institutional investors.


DURECT stock opened at $1.36 on Friday. The company has a current ratio of 11.60, a quick ratio of 11.37 and a debt-to-equity ratio of 0.28. DURECT has a 1 year low of $1.20 and a 1 year high of $2.95. The company has a market cap of $309.39 million, a PE ratio of -11.33 and a beta of 1.29. The company’s 50-day moving average is $1.41 and its two-hundred day moving average is $1.74.

About DURECT

DURECT Corp. focuses in advancing novel and potentially lifesaving investigational therapies derived from its Epigenetic Regulator Program. Its pipeline is called DUR-928, an endogenous sulfated oxysterol and an epigenetic regulator. The company was founded by James E. Brown and Felix Theeuwes on February 6, 1998 and is headquartered in Cupertino, CA.

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