DURECT Corporation (NASDAQ:DRRX) Expected to Announce Quarterly Sales of $5.17 Million
Equities research analysts expect DURECT Corporation (NASDAQ:DRRX) to announce $5.17 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for DURECT Corporation’s earnings. The lowest sales estimate is $3.40 million and the highest is $8.50 million. DURECT Corporation reported sales of $3.16 million during the same quarter last year, which suggests a positive year-over-year growth rate of 63.6%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, August 8th.
On average, analysts expect that DURECT Corporation will report full-year sales of $5.17 million for the current financial year, with estimates ranging from $15.62 million to $36.70 million. For the next year, analysts expect that the firm will post sales of $31.94 million per share, with estimates ranging from $14.31 million to $42.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for DURECT Corporation.
DURECT Corporation (NASDAQ:DRRX) last posted its earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The firm had revenue of $4.57 million during the quarter, compared to analyst estimates of $3.60 million. DURECT Corporation had a negative net margin of 232.05% and a negative return on equity of 318.49%.
Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus raised shares of DURECT Corporation from a “hold” rating to a “buy” rating and upped their target price for the stock from $1.25 to $3.00 in a report on Wednesday, July 12th. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of DURECT Corporation in a report on Sunday, June 25th.
Several large investors have recently bought and sold shares of the company. Ingalls & Snyder LLC raised its stake in 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 buying an additional 4,369,400 shares during the last quarter. Gagnon Securities LLC raised its stake in DURECT Corporation by 35.9% in the second quarter. Gagnon Securities LLC now owns 1,283,954 shares of the specialty pharmaceutical company’s stock valued at $2,003,000 after buying an additional 338,881 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in DURECT Corporation during the first quarter valued at $118,000. Ironwood Investment Management LLC raised its stake in DURECT Corporation by 0.6% in the first quarter. Ironwood Investment Management LLC now owns 472,029 shares of the specialty pharmaceutical company’s stock valued at $496,000 after buying an additional 2,785 shares during the last quarter. Finally, Stonepine Capital Management LLC raised its stake in DURECT Corporation by 28.6% in the first quarter. Stonepine Capital Management LLC now owns 2,801,376 shares of the specialty pharmaceutical company’s stock valued at $2,941,000 after buying an additional 623,585 shares during the last quarter. 49.71% of the stock is currently owned by institutional investors and hedge funds.
DURECT Corporation (DRRX) traded down 0.59% on Friday, reaching $1.69. 192,719 shares of the company’s stock were exchanged. The firm’s market capitalization is $239.92 million. The firm has a 50-day moving average of $1.62 and a 200-day moving average of $1.19. DURECT Corporation has a 12 month low of $0.74 and a 12 month high of $1.95.
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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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