Wall Street brokerages forecast that DURECT Co. (NASDAQ:DRRX) will report earnings of ($0.02) per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for DURECT’s earnings. The lowest EPS estimate is ($0.04) and the highest is $0.03. DURECT posted earnings per share of ($0.05) in the same quarter last year, which suggests a positive year-over-year growth rate of 60%. The company is expected to report its next quarterly earnings report on Thursday, March 5th.
On average, analysts expect that DURECT will report full-year earnings of ($0.11) per share for the current year, with EPS estimates ranging from ($0.13) to ($0.07). For the next year, analysts anticipate that the business will post earnings of ($0.14) per share, with EPS estimates ranging from ($0.17) to ($0.10). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for DURECT.
DRRX has been the topic of several recent research reports. BidaskClub lowered DURECT from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 7th. Cantor Fitzgerald initiated coverage on DURECT in a research report on Monday, November 18th. They set a “buy” rating and a $5.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $5.50 price objective on shares of DURECT in a research report on Friday, January 3rd. Craig Hallum started coverage on DURECT in a report on Wednesday, January 22nd. They set a “buy” rating for the company. Finally, ValuEngine upgraded DURECT from a “sell” rating to a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $4.40.
Shares of DURECT stock traded down $0.14 during trading on Friday, hitting $1.96. 939,449 shares of the stock traded hands, compared to its average volume of 2,130,948. The company has a quick ratio of 1.72, a current ratio of 1.81 and a debt-to-equity ratio of 1.04. The stock has a market cap of $340.48 million, a price-to-earnings ratio of -14.00 and a beta of 2.12. The firm’s fifty day moving average is $2.37 and its 200-day moving average is $1.96. DURECT has a 52 week low of $0.50 and a 52 week high of $3.95.
In related news, major shareholder Lp Bleichroeder bought 227,498 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was bought at an average cost of $1.63 per share, for a total transaction of $370,821.74. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 10.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in DURECT by 15.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,092,244 shares of the specialty pharmaceutical company’s stock valued at $4,624,000 after acquiring an additional 950,305 shares during the period. Renaissance Technologies LLC boosted its holdings in DURECT by 5.2% during the 4th quarter. Renaissance Technologies LLC now owns 4,219,212 shares of the specialty pharmaceutical company’s stock valued at $16,033,000 after acquiring an additional 207,691 shares during the period. Beirne Wealth Consulting Services LLC boosted its holdings in DURECT by 8.0% during the 4th quarter. Beirne Wealth Consulting Services LLC now owns 1,655,996 shares of the specialty pharmaceutical company’s stock valued at $6,293,000 after acquiring an additional 122,741 shares during the period. Acadian Asset Management LLC boosted its holdings in DURECT by 0.8% during the 4th quarter. Acadian Asset Management LLC now owns 1,136,302 shares of the specialty pharmaceutical company’s stock valued at $4,318,000 after acquiring an additional 9,368 shares during the period. Finally, Tocqueville Asset Management L.P. boosted its holdings in DURECT by 2.6% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 1,128,500 shares of the specialty pharmaceutical company’s stock valued at $2,076,000 after acquiring an additional 28,282 shares during the period. Institutional investors own 30.51% 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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