DURECT Corporation (DRRX) Expected to Announce Quarterly Sales of $4.60 Million
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%.
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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.
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