Equities analysts predict that DURECT Co. (NASDAQ:DRRX) will post $4.05 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for DURECT’s earnings, with estimates ranging from $3.85 million to $4.20 million. DURECT posted sales of $3.41 million during the same quarter last year, which suggests a positive year-over-year growth rate of 18.8%. The firm is scheduled to announce its next earnings results on Wednesday, August 7th.
On average, analysts expect that DURECT will report full-year sales of $16.50 million for the current year, with estimates ranging from $16.10 million to $17.28 million. For the next year, analysts forecast that the firm will report sales of $18.65 million, with estimates ranging from $16.91 million to $20.95 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover DURECT.
DURECT (NASDAQ:DRRX) last released its earnings results on Tuesday, May 7th. The specialty pharmaceutical company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $4.13 million during the quarter, compared to analysts’ expectations of $3.50 million. DURECT had a negative net margin of 125.76% and a negative return on equity of 108.92%.
DRRX stock opened at $0.66 on Wednesday. The stock has a market capitalization of $99.04 million, a PE ratio of -4.10 and a beta of 1.88. The stock’s 50-day moving average is $0.62. The company has a quick ratio of 3.39, a current ratio of 3.74 and a debt-to-equity ratio of 1.82. DURECT has a 52 week low of $0.46 and a 52 week high of $1.98.
In other DURECT news, major shareholder First Eagle Investment Managem purchased 4,000,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average cost of $0.52 per share, for a total transaction of $2,080,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jon S. Saxe purchased 40,400 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average price of $0.70 per share, for a total transaction of $28,280.00. Following the completion of the transaction, the director now directly owns 27,810 shares of the company’s stock, valued at approximately $19,467. The disclosure for this purchase can be found here. Insiders have purchased 4,095,400 shares of company stock worth $2,140,930 over the last 90 days. 10.20% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA boosted its position in DURECT by 1,420.0% during the first quarter. BNP Paribas Arbitrage SA now owns 42,545 shares of the specialty pharmaceutical company’s stock worth $27,000 after acquiring an additional 39,746 shares during the last quarter. Prudential Financial Inc. boosted its position in DURECT by 541.8% during the fourth quarter. Prudential Financial Inc. now owns 89,460 shares of the specialty pharmaceutical company’s stock worth $43,000 after acquiring an additional 75,520 shares during the last quarter. SG Americas Securities LLC boosted its position in DURECT by 787.0% during the fourth quarter. SG Americas Securities LLC now owns 140,745 shares of the specialty pharmaceutical company’s stock worth $68,000 after acquiring an additional 124,878 shares during the last quarter. Rhumbline Advisers boosted its position in DURECT by 44.6% during the fourth quarter. Rhumbline Advisers now owns 204,285 shares of the specialty pharmaceutical company’s stock worth $99,000 after acquiring an additional 62,985 shares during the last quarter. Finally, Raymond James & Associates acquired a new position in DURECT during the fourth quarter worth about $171,000. Hedge funds and other institutional investors own 44.38% of the company’s stock.
DURECT Corporation, a biopharmaceutical company, researches and develops medicines based on its epigenetic regulator and pharmaceutical programs. The company offers ALZET product line that consists of osmotic pumps and accessories used for experimental research in mice, rats, and other laboratory animals; and a range of biodegradable polymers for pharmaceutical and medical device clients for use as raw materials in their products under the LACTEL brand.
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