Brokerages expect DURECT Corporation (NASDAQ:DRRX) to announce sales of $4.60 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for DURECT’s earnings, with the highest sales estimate coming in at $7.40 million and the lowest estimate coming in at $3.00 million. DURECT reported sales of $3.52 million in the same quarter last year, which indicates a positive year over year growth rate of 30.7%. The firm is expected to report its next earnings report on Tuesday, March 13th.

On average, analysts expect that DURECT will report full-year sales of $4.60 million for the current financial year, with estimates ranging from $32.63 million to $37.03 million. For the next financial year, analysts forecast that the firm 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 a mean average based on a survey of research firms that that provide coverage for DURECT.

DURECT (NASDAQ:DRRX) last announced its earnings results on Wednesday, November 1st. The specialty pharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.09. DURECT had a negative net margin of 62.57% and a negative return on equity of 419.65%. The business had revenue of $20.75 million during the quarter, compared to analyst estimates of $5.09 million.

Several equities research analysts have issued reports on DRRX shares. Stifel Nicolaus lowered shares of DURECT from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. HC Wainwright reiterated a “hold” rating on shares of DURECT in a research report on Thursday, November 2nd. ValuEngine upgraded shares of DURECT from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Laidlaw dropped their target price on shares of DURECT from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Friday, October 20th.

Shares of DURECT (NASDAQ:DRRX) opened at $1.01 on Monday. DURECT has a 1 year low of $0.74 and a 1 year high of $2.17. The company has a quick ratio of 1.57, a current ratio of 1.67 and a debt-to-equity ratio of 1.46.

Institutional investors and hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC lifted its holdings in shares of DURECT 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 acquiring an additional 15,394 shares during the last quarter. State of Wisconsin Investment Board bought a new stake in shares of DURECT in the 2nd quarter worth approximately $151,000. The Manufacturers Life Insurance Company lifted its holdings in shares of DURECT by 12.1% in 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. Rhumbline Advisers lifted its holdings in shares of DURECT by 12.0% in the 2nd quarter. Rhumbline Advisers now owns 175,604 shares of the specialty pharmaceutical company’s stock worth $274,000 after acquiring an additional 18,871 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of DURECT by 2.2% in 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. Hedge funds and other institutional investors own 44.69% of the company’s stock.

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About DURECT

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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Earnings History and Estimates for DURECT (NASDAQ:DRRX)

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