Wall Street brokerages expect DURECT Corporation (NASDAQ:DRRX) to post sales of $5.09 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for DURECT Corporation’s earnings, with estimates ranging from $3.40 million to $8.20 million. DURECT Corporation posted sales of $3.74 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 36.1%. The company is scheduled to report its next earnings report on Monday, October 30th.

According to Zacks, analysts expect that DURECT Corporation will report full-year sales of $5.09 million for the current financial year, with estimates ranging from $16.32 million to $30.01 million. For the next fiscal year, analysts anticipate that the firm will report sales of $30.22 million per share, with estimates ranging from $14.16 million to $42.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow DURECT Corporation.

DURECT Corporation (NASDAQ:DRRX) last announced its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.02). The business had revenue of $4.32 million during the quarter, compared to analyst estimates of $5.17 million. DURECT Corporation had a negative return on equity of 629.35% and a negative net margin of 221.01%.

A number of equities analysts have issued reports on DRRX shares. ValuEngine raised shares of DURECT Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price objective on shares of DURECT Corporation in a report on Sunday, June 25th. Finally, Stifel Nicolaus raised shares of DURECT Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $1.25 to $3.00 in a report on Wednesday, July 12th.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ironwood Investment Management LLC boosted its holdings in DURECT Corporation by 0.6% during the 1st quarter. Ironwood Investment Management LLC now owns 472,029 shares of the specialty pharmaceutical company’s stock worth $496,000 after acquiring an additional 2,785 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in DURECT Corporation by 2.2% during the 1st quarter. TIAA CREF Investment Management LLC now owns 423,625 shares of the specialty pharmaceutical company’s stock worth $445,000 after acquiring an additional 9,289 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in DURECT Corporation by 12.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 120,977 shares of the specialty pharmaceutical company’s stock worth $189,000 after acquiring an additional 13,072 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in DURECT Corporation by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 370,387 shares of the specialty pharmaceutical company’s stock worth $578,000 after acquiring an additional 14,553 shares during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in DURECT Corporation by 22.8% during the 2nd quarter. Voya Investment Management LLC now owns 82,826 shares of the specialty pharmaceutical company’s stock worth $129,000 after acquiring an additional 15,394 shares during the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of DURECT Corporation (DRRX) traded down 2.0000% during trading on Thursday, hitting $1.9404. 41,306 shares of the stock traded hands. The company has a 50 day moving average of $1.73 and a 200-day moving average of $1.43. DURECT Corporation has a 1-year low of $0.74 and a 1-year high of $2.17. The company’s market cap is $285.23 million.

About DURECT Corporation

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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