Wall Street analysts expect DURECT Corporation (NASDAQ:DRRX) to report $4.60 million in sales for the current quarter, Zacks Investment Research reports. 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 posted sales of $3.52 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 30.7%. The company is scheduled to announce its next quarterly earnings report on Tuesday, March 13th.

According to Zacks, analysts expect that DURECT Corporation will report full-year sales of $4.60 million for the current year, with estimates ranging from $32.63 million to $37.03 million. For the next financial year, analysts anticipate that the company will post sales of $22.67 million per share, with estimates ranging from $14.00 million to $37.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover DURECT Corporation.

DURECT Corporation (NASDAQ:DRRX) last issued its quarterly earnings results on Wednesday, November 1st. The specialty pharmaceutical company reported $0.04 earnings per share (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 419.65%.

A number of equities analysts have recently commented on the stock. HC Wainwright reaffirmed a “hold” rating on shares of DURECT Corporation in a report on Thursday, November 2nd. ValuEngine cut shares of DURECT Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 21st. Laidlaw dropped 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 note on Friday, October 20th. Finally, Stifel Nicolaus cut shares of DURECT Corporation from a “buy” rating to a “hold” rating in a research note on Friday, October 20th.

ILLEGAL ACTIVITY WARNING: “DURECT Corporation (DRRX) Expected to Announce Quarterly Sales of $4.60 Million” was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another domain, it was copied illegally and reposted in violation of US and international copyright legislation. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/11/23/durect-corporation-drrx-expected-to-announce-quarterly-sales-of-4-60-million.html.

Institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC boosted its position in shares of DURECT Corporation by 22.8% in the 2nd quarter. Voya Investment Management LLC now owns 82,826 shares of the specialty pharmaceutical company’s stock worth $129,000 after buying an additional 15,394 shares in the last quarter. State of Wisconsin Investment Board purchased a new position in DURECT Corporation in the 2nd quarter valued at about $151,000. The Manufacturers Life Insurance Company lifted its holdings in DURECT Corporation by 12.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 120,977 shares of the specialty pharmaceutical company’s stock valued at $189,000 after purchasing an additional 13,072 shares in the last quarter. Rhumbline Advisers lifted its holdings in DURECT Corporation by 12.0% in the 2nd quarter. Rhumbline Advisers now owns 175,604 shares of the specialty pharmaceutical company’s stock valued at $274,000 after purchasing an additional 18,871 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in DURECT Corporation by 2.2% in the 1st quarter. TIAA CREF Investment Management LLC now owns 423,625 shares of the specialty pharmaceutical company’s stock valued at $445,000 after purchasing an additional 9,289 shares in the last quarter. Institutional investors and hedge funds own 46.13% of the company’s stock.

DURECT Corporation (NASDAQ DRRX) opened at $1.15 on Thursday. DURECT Corporation has a 1-year low of $0.74 and a 1-year high of $2.17. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.57 and a current ratio of 1.67.

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.

Get a free copy of the Zacks research report on DURECT Corporation (DRRX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for DURECT Corporation (NASDAQ:DRRX)

Receive News & Ratings for DURECT Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DURECT Corporation and related companies with MarketBeat.com's FREE daily email newsletter.