Zacks: Analysts Expect DURECT Co. (DRRX) to Post -$0.05 EPS

Wall Street analysts expect DURECT Co. (NASDAQ:DRRX) to announce earnings of ($0.05) per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for DURECT’s earnings, with the highest EPS estimate coming in at ($0.04) and the lowest estimate coming in at ($0.07). DURECT posted earnings per share of ($0.06) in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.7%. The company is scheduled to issue its next earnings report on Tuesday, March 13th.

On average, analysts expect that DURECT will report full-year earnings of ($0.14) per share for the current financial year, with EPS estimates ranging from ($0.15) to ($0.13). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.17) per share, with EPS estimates ranging from ($0.28) to ($0.10). Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for DURECT.

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

A number of brokerages have recently issued reports on DRRX. ValuEngine upgraded DURECT from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 10th. Stifel Nicolaus cut DURECT from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Laidlaw dropped their price objective on DURECT from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday, October 20th. Finally, HC Wainwright cut DURECT from a “buy” rating to a “neutral” rating and set a $3.00 price objective on the stock. in a research note on Friday, October 20th.

Several institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in shares of DURECT by 12.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 120,977 shares of the specialty pharmaceutical company’s stock worth $189,000 after purchasing an additional 13,072 shares in the last quarter. Bank of New York Mellon Corp raised its stake in DURECT by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 370,387 shares of the specialty pharmaceutical company’s stock valued at $578,000 after acquiring an additional 14,553 shares during the period. Voya Investment Management LLC raised its stake in DURECT by 22.8% in the 2nd quarter. Voya Investment Management LLC now owns 82,826 shares of the specialty pharmaceutical company’s stock valued at $129,000 after acquiring an additional 15,394 shares during the period. Rhumbline Advisers raised its stake in DURECT 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 acquiring an additional 18,871 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in DURECT by 61.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 263,476 shares of the specialty pharmaceutical company’s stock valued at $467,000 after acquiring an additional 100,200 shares during the period. Institutional investors own 46.24% of the company’s stock.

Shares of DURECT (NASDAQ DRRX) traded down $0.06 during trading on Monday, hitting $1.18. The stock had a trading volume of 230,798 shares, compared to its average volume of 867,010. DURECT has a one year low of $0.74 and a one year high of $2.17. The company has a market cap of $184.20, a PE ratio of -7.87 and a beta of 1.69. The company has a current ratio of 1.67, a quick ratio of 1.57 and a debt-to-equity ratio of 1.46.

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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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