DURECT Corporation (DRRX) to Post FY2017 Earnings of ($0.13) Per Share, Zacks Investment Research Forecasts
DURECT Corporation (NASDAQ:DRRX) – Equities research analysts at Zacks Investment Research increased their FY2017 EPS estimates for shares of DURECT Corporation in a research note issued on Thursday. Zacks Investment Research analyst G. Zeng now forecasts that the specialty pharmaceutical company will post earnings per share of ($0.13) for the year, up from their prior forecast of ($0.21). Zacks Investment Research also issued estimates for DURECT Corporation’s FY2018 earnings at ($0.14) EPS.
A number of other research firms have also weighed in on DRRX. HC Wainwright lowered shares of DURECT Corporation from a “buy” rating to a “neutral” rating and set a $3.00 price objective for the company. in a research report on Friday, October 20th. Laidlaw cut their price objective on shares of DURECT Corporation from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Friday, October 20th. Stifel Nicolaus lowered shares of DURECT Corporation from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. Finally, ValuEngine raised shares of DURECT Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th.
DURECT Corporation (NASDAQ DRRX) opened at $0.95 on Monday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.57 and a current ratio of 1.67. DURECT Corporation has a 52-week low of $0.74 and a 52-week high of $2.17.
DURECT Corporation (NASDAQ:DRRX) last posted its quarterly earnings data on Wednesday, November 1st. The specialty pharmaceutical company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. The business had revenue of $20.75 million during the quarter, compared to analyst estimates of $5.09 million. DURECT Corporation had a negative net margin of 62.57% and a negative return on equity of 419.65%.
Hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC increased its position in DURECT Corporation by 22.8% during the second quarter. Voya Investment Management LLC now owns 82,826 shares of the specialty pharmaceutical company’s stock worth $129,000 after purchasing an additional 15,394 shares during the last quarter. State of Wisconsin Investment Board acquired a new position in DURECT Corporation during the second quarter worth approximately $151,000. The Manufacturers Life Insurance Company increased its position in DURECT Corporation by 12.1% during the second 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 during the last quarter. SG Americas Securities LLC acquired a new position in DURECT Corporation during the first quarter worth approximately $147,000. Finally, Rhumbline Advisers increased its position in DURECT Corporation by 12.0% during the second quarter. Rhumbline Advisers now owns 175,604 shares of the specialty pharmaceutical company’s stock worth $274,000 after purchasing an additional 18,871 shares during the last quarter. 46.51% of the stock is owned by hedge funds and other institutional investors.
About DURECT Corporation
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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