Northland Capmk Analysts Raise Earnings Estimates for DURECT Co. (NASDAQ:DRRX)

DURECT Co. (NASDAQ:DRRX) – Research analysts at Northland Capmk lifted their Q3 2024 EPS estimates for shares of DURECT in a report issued on Wednesday, August 14th. Northland Capmk analyst C. Byrnes now forecasts that the specialty pharmaceutical company will earn ($0.14) per share for the quarter, up from their prior estimate of ($0.22). The consensus estimate for DURECT’s current full-year earnings is ($0.85) per share. Northland Capmk also issued estimates for DURECT’s Q4 2024 earnings at ($0.17) EPS and FY2024 earnings at ($0.67) EPS.

DURECT (NASDAQ:DRRX) last issued its quarterly earnings data on Tuesday, August 13th. The specialty pharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05. The company had revenue of $2.17 million during the quarter, compared to the consensus estimate of $2.49 million. DURECT had a negative net margin of 279.77% and a negative return on equity of 328.25%. During the same quarter last year, the company earned ($0.46) earnings per share.

Several other analysts have also recently issued reports on DRRX. StockNews.com cut DURECT from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. HC Wainwright reissued a “neutral” rating on shares of DURECT in a research report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.00.

DURECT Trading Down 2.6 %

Shares of NASDAQ:DRRX opened at $1.12 on Friday. The firm has a market cap of $34.76 million, a PE ratio of -1.18 and a beta of 1.03. DURECT has a 12-month low of $0.47 and a 12-month high of $3.36. The company has a fifty day simple moving average of $1.45 and a 200 day simple moving average of $1.19.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DRRX. Richmond Brothers Inc. acquired a new position in shares of DURECT during the fourth quarter valued at $306,000. Accredited Investors Inc. acquired a new stake in shares of DURECT in the second quarter valued at approximately $113,000. Tocqueville Asset Management L.P. raised its holdings in shares of DURECT by 10.8% during the first quarter. Tocqueville Asset Management L.P. now owns 256,220 shares of the specialty pharmaceutical company’s stock valued at $310,000 after buying an additional 25,000 shares during the last quarter. Gagnon Securities LLC boosted its position in shares of DURECT by 6.0% during the first quarter. Gagnon Securities LLC now owns 380,131 shares of the specialty pharmaceutical company’s stock worth $460,000 after buying an additional 21,425 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in DURECT by 41.3% in the 2nd quarter. International Assets Investment Management LLC now owns 21,550 shares of the specialty pharmaceutical company’s stock worth $28,000 after buying an additional 6,300 shares in the last quarter. Institutional investors and hedge funds own 28.03% of the company’s stock.

About DURECT

DURECT Corporation, a biopharmaceutical company, develops medicines based on its epigenetic regulator program. The company's lead product larsucosterol (DUR-928), an endogenous, orally bioavailable small molecule that is in Phase IIb clinical trial to play a regulatory role in lipid metabolism, stress and inflammatory responses, and cell death and survival to treat alcohol-associated hepatitis, as well as completed Phase Ib clinical trial to treat patients with nonalcoholic steatohepatitis.