$4.72 Million in Sales Expected for DURECT Corporation (DRRX) This Quarter
Wall Street analysts expect DURECT Corporation (NASDAQ:DRRX) to post $4.72 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for DURECT Corporation’s earnings, with the lowest sales estimate coming in at $3.00 million and the highest estimate coming in at $7.40 million. DURECT Corporation reported sales of $3.52 million in the same quarter last year, which would indicate a positive year over year growth rate of 34.1%. The firm is expected to report its next earnings results on Tuesday, March 13th.
According to Zacks, analysts expect that DURECT Corporation will report full year sales of $4.72 million for the current year, with estimates ranging from $15.29 million to $24.50 million. For the next fiscal year, analysts forecast that the firm will post sales of $21.05 million per share, with estimates ranging from $12.00 million to $37.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for DURECT Corporation.
DURECT Corporation (NASDAQ:DRRX) last issued its quarterly earnings data on Wednesday, November 1st. The specialty pharmaceutical company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. The company had revenue of $20.75 million during the quarter, compared to the consensus estimate of $5.09 million. DURECT Corporation had a negative net margin of 62.57% and a negative return on equity of 638.84%.
A number of equities research analysts have recently weighed in on the stock. HC Wainwright restated a “hold” rating on shares of DURECT Corporation in a report on Thursday. Stifel Nicolaus lowered shares of DURECT Corporation from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. ValuEngine raised shares of DURECT Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Laidlaw lowered their price objective on shares of DURECT Corporation from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, October 20th.
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A number of institutional investors have recently modified their holdings of the business. Ingalls & Snyder LLC boosted its holdings in shares of DURECT Corporation by 213.1% in the second quarter. Ingalls & Snyder LLC now owns 6,419,482 shares of the specialty pharmaceutical company’s stock valued at $10,014,000 after acquiring an additional 4,369,400 shares in the last quarter. Asymmetry Capital Management L.P. purchased a new stake in shares of DURECT Corporation in the second quarter valued at about $1,636,000. Tocqueville Asset Management L.P. boosted its holdings in shares of DURECT Corporation by 70.3% in the third quarter. Tocqueville Asset Management L.P. now owns 2,043,383 shares of the specialty pharmaceutical company’s stock valued at $3,617,000 after acquiring an additional 843,383 shares in the last quarter. Stonepine Capital Management LLC boosted its holdings in shares of DURECT Corporation by 13.4% in the second quarter. Stonepine Capital Management LLC now owns 3,175,994 shares of the specialty pharmaceutical company’s stock valued at $4,955,000 after acquiring an additional 374,618 shares in the last quarter. Finally, Mangrove Partners purchased a new stake in shares of DURECT Corporation in the second quarter valued at about $530,000. 45.91% of the stock is currently owned by institutional investors.
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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