Brokerages Anticipate DURECT Co. (DRRX) to Post ($0.03) Earnings Per Share

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Shares of DURECT Co. (NASDAQ:DRRX) have been given a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.

Brokerages have set a 12 month consensus price target of $3.67 for the company and are forecasting that the company will post ($0.03) EPS for the current quarter, according to Zacks. Zacks has also given DURECT an industry rank of 101 out of 255 based on the ratings given to related companies.

DRRX has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of DURECT in a research report on Tuesday, July 31st. BidaskClub downgraded shares of DURECT from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 4th.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in DURECT by 0.7% in the 2nd quarter. BlackRock Inc. now owns 11,565,236 shares of the specialty pharmaceutical company’s stock worth $18,040,000 after purchasing an additional 84,464 shares during the period. Renaissance Technologies LLC grew its position in DURECT by 85.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,269,494 shares of the specialty pharmaceutical company’s stock worth $5,100,000 after purchasing an additional 1,504,894 shares during the period. Northern Trust Corp grew its position in DURECT by 10.1% in the 2nd quarter. Northern Trust Corp now owns 1,777,511 shares of the specialty pharmaceutical company’s stock worth $2,773,000 after purchasing an additional 162,977 shares during the period. Gagnon Securities LLC grew its position in DURECT by 31.7% in the 2nd quarter. Gagnon Securities LLC now owns 1,483,035 shares of the specialty pharmaceutical company’s stock worth $2,314,000 after purchasing an additional 356,882 shares during the period. Finally, Acadian Asset Management LLC grew its position in DURECT by 172.0% in the 2nd quarter. Acadian Asset Management LLC now owns 906,619 shares of the specialty pharmaceutical company’s stock worth $1,415,000 after purchasing an additional 573,266 shares during the period. 47.64% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ DRRX opened at $1.02 on Tuesday. DURECT has a twelve month low of $0.75 and a twelve month high of $2.55. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.60 and a quick ratio of 3.36.

DURECT (NASDAQ:DRRX) last announced its quarterly earnings data on Wednesday, August 1st. The specialty pharmaceutical company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. DURECT had a negative net margin of 2.04% and a negative return on equity of 4.27%. The company had revenue of $3.41 million during the quarter, compared to analyst estimates of $3.83 million. On average, analysts anticipate that DURECT will post -0.19 EPS for the current year.

About DURECT

DURECT Corporation, a biopharmaceutical company, researches and develops medicines based on its epigenetic regulator and drug delivery 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 use as raw materials in their products for pharmaceutical and medical devices under the LACTEL brand.

See Also: Return on Equity (ROE)

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