DURECT Co. Expected to Post FY2023 Earnings of ($0.23) Per Share (NASDAQ:DRRX)

DURECT Co. (NASDAQ:DRRXGet Rating) – Research analysts at Cantor Fitzgerald issued their FY2023 earnings estimates for shares of DURECT in a report released on Monday, June 6th. Cantor Fitzgerald analyst K. Kluska forecasts that the specialty pharmaceutical company will post earnings per share of ($0.23) for the year.

A number of other research firms have also recently issued reports on DRRX. Zacks Investment Research cut DURECT from a “hold” rating to a “sell” rating in a report on Thursday, May 5th. StockNews.com initiated coverage on shares of DURECT in a report on Wednesday. They issued a “hold” rating for the company.

Shares of NASDAQ:DRRX opened at $0.59 on Thursday. The business’s 50-day moving average is $0.46 and its 200-day moving average is $0.68. DURECT has a 1 year low of $0.36 and a 1 year high of $1.85. The company has a market capitalization of $133.49 million, a price-to-earnings ratio of -3.66 and a beta of 1.45. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.83 and a quick ratio of 7.60.

DURECT (NASDAQ:DRRXGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The specialty pharmaceutical company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $1.92 million during the quarter, compared to analysts’ expectations of $2.43 million. DURECT had a negative net margin of 270.27% and a negative return on equity of 60.89%. During the same period in the prior year, the company posted ($0.05) earnings per share.

In related news, Director Judith J. Robertson purchased 65,000 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was acquired at an average cost of $0.39 per share, with a total value of $25,350.00. Following the transaction, the director now owns 265,000 shares of the company’s stock, valued at approximately $103,350. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Judith J. Robertson acquired 200,000 shares of the business’s stock in a transaction on Monday, March 14th. The shares were purchased at an average cost of $0.59 per share, for a total transaction of $118,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 386,911 shares of company stock valued at $191,686. Corporate insiders own 5.20% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Credit Suisse AG lifted its stake in DURECT by 4.2% in the third quarter. Credit Suisse AG now owns 230,700 shares of the specialty pharmaceutical company’s stock valued at $296,000 after purchasing an additional 9,204 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of DURECT by 25.7% in the third quarter. Invesco Ltd. now owns 97,886 shares of the specialty pharmaceutical company’s stock worth $125,000 after buying an additional 20,009 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of DURECT by 70.5% in the fourth quarter. ProShare Advisors LLC now owns 49,421 shares of the specialty pharmaceutical company’s stock valued at $49,000 after acquiring an additional 20,430 shares during the period. Janus Henderson Group PLC purchased a new position in DURECT during the third quarter valued at approximately $29,000. Finally, Cowen Prime Advisors LLC boosted its stake in DURECT by 27.7% during the fourth quarter. Cowen Prime Advisors LLC now owns 113,203 shares of the specialty pharmaceutical company’s stock valued at $112,000 after buying an additional 24,525 shares during the period. Institutional investors and hedge funds own 50.60% of the company’s stock.

About DURECT (Get Rating)

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 research in mice, rats, and other laboratory animals. It also develops 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.

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