DURECT Corporation (DRRX) Announces Earnings Results, Beats Estimates By $0.09 EPS
DURECT Corporation (NASDAQ:DRRX) announced its quarterly earnings results on Wednesday. The specialty pharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.09, Bloomberg Earnings reports. DURECT Corporation had a negative net margin of 221.01% and a negative return on equity of 629.35%.
An institutional investor recently raised its position in DURECT Corporation stock. The Manufacturers Life Insurance Company raised its stake in DURECT Corporation (NASDAQ:DRRX) by 12.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 120,977 shares of the specialty pharmaceutical company’s stock after purchasing an additional 13,072 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of DURECT Corporation worth $189,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 45.91% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on the stock. HC Wainwright reiterated a “hold” rating on shares of DURECT Corporation in a research note on Thursday. Stifel Nicolaus cut shares of DURECT Corporation from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. ValuEngine upgraded shares of DURECT Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Laidlaw dropped their price target on shares of DURECT Corporation from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday, October 20th.
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DURECT Corporation Company Profile
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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