Zacks: Brokerages Anticipate DURECT Co. (NASDAQ:DRRX) to Announce -$0.04 Earnings Per Share

Brokerages expect DURECT Co. (NASDAQ:DRRX) to post earnings of ($0.04) per share for the current quarter, Zacks reports. Three analysts have provided estimates for DURECT’s earnings. The highest EPS estimate is ($0.03) and the lowest is ($0.05). DURECT also reported earnings per share of ($0.04) in the same quarter last year. The firm is scheduled to issue its next quarterly earnings results on Thursday, August 6th.

On average, analysts expect that DURECT will report full year earnings of ($0.18) per share for the current financial year, with EPS estimates ranging from ($0.21) to ($0.15). For the next fiscal year, analysts forecast that the business will post earnings of ($0.13) per share, with EPS estimates ranging from ($0.16) to ($0.07). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow DURECT.

DURECT (NASDAQ:DRRX) last released its quarterly earnings results on Monday, May 11th. The specialty pharmaceutical company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.01). DURECT had a negative return on equity of 114.36% and a negative net margin of 82.94%. The company had revenue of $2.78 million during the quarter, compared to analysts’ expectations of $4.74 million.

Several research analysts have commented on the stock. ValuEngine upgraded shares of DURECT from a “hold” rating to a “buy” rating in a report on Tuesday, April 14th. HC Wainwright increased their price objective on shares of DURECT from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. B. Riley reissued a “buy” rating and set a $5.00 price objective on shares of DURECT in a research report on Monday. BidaskClub downgraded shares of DURECT from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Zacks Investment Research downgraded shares of DURECT from a “buy” rating to a “hold” rating in a report on Friday, May 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $4.12.

DRRX traded down $0.18 during trading on Wednesday, hitting $2.32. 2,867,800 shares of the stock traded hands, compared to its average volume of 1,572,060. The firm has a market capitalization of $441.05 million, a P/E ratio of -19.33 and a beta of 2.20. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.57 and a quick ratio of 2.43. The firm has a 50-day moving average of $2.41 and a 200 day moving average of $2.13. DURECT has a 12-month low of $0.61 and a 12-month high of $3.95.

In other DURECT news, major shareholder Lp Bleichroeder sold 39,388 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $2.50, for a total value of $98,470.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Judy R. Joice sold 57,820 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $2.45, for a total value of $141,659.00. Following the completion of the sale, the vice president now owns 67,611 shares in the company, valued at approximately $165,646.95. The disclosure for this sale can be found here. Insiders own 10.20% of the company’s stock.

Several large investors have recently made changes to their positions in DRRX. BRYN MAWR TRUST Co acquired a new position in DURECT in the 1st quarter valued at $33,000. Private Advisor Group LLC purchased a new position in shares of DURECT during the 1st quarter worth $36,000. Financial Consulate Inc. purchased a new position in DURECT during the 1st quarter valued at about $38,000. Alambic Investment Management L.P. boosted its holdings in DURECT by 31.1% during the 1st quarter. Alambic Investment Management L.P. now owns 27,800 shares of the specialty pharmaceutical company’s stock valued at $43,000 after acquiring an additional 6,600 shares during the period. Finally, UBS Group AG boosted its stake in shares of DURECT by 168.7% in the 4th quarter. UBS Group AG now owns 18,979 shares of the specialty pharmaceutical company’s stock valued at $72,000 after buying an additional 11,916 shares during the period. Hedge funds and other institutional investors own 49.93% of the company’s stock.

DURECT Company Profile

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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