What is HC Wainwright’s Forecast for DURECT FY2024 Earnings?

DURECT Co. (NASDAQ:DRRX) – Research analysts at HC Wainwright raised their FY2024 earnings per share (EPS) estimates for DURECT in a research report issued on Thursday, November 14th. HC Wainwright analyst E. Arce now anticipates that the specialty pharmaceutical company will earn ($0.63) per share for the year, up from their prior forecast of ($1.07). HC Wainwright has a “Neutral” rating on the stock. The consensus estimate for DURECT’s current full-year earnings is ($0.64) per share. HC Wainwright also issued estimates for DURECT’s Q4 2024 earnings at ($0.14) EPS, Q1 2025 earnings at ($0.14) EPS, Q2 2025 earnings at ($0.15) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.14) EPS, FY2025 earnings at ($0.60) EPS, FY2026 earnings at ($0.31) EPS, FY2027 earnings at $0.67 EPS and FY2028 earnings at $3.07 EPS.

Separately, StockNews.com started coverage on shares of DURECT in a research note on Monday, November 11th. They set a “sell” rating on the stock.

DURECT Stock Performance

DRRX opened at $1.01 on Monday. The firm has a market cap of $31.35 million, a P/E ratio of -1.66 and a beta of 1.13. The business’s fifty day moving average is $1.35 and its 200-day moving average is $1.37. DURECT has a 52-week low of $0.48 and a 52-week high of $1.88.

Hedge Funds Weigh In On DURECT

Several hedge funds and other institutional investors have recently modified their holdings of the business. Richmond Brothers Inc. grew its position in DURECT by 39.5% in the second quarter. Richmond Brothers Inc. now owns 1,072,014 shares of the specialty pharmaceutical company’s stock valued at $1,383,000 after acquiring an additional 303,670 shares during the last quarter. Accredited Investors Inc. bought a new stake in shares of DURECT during the 2nd quarter valued at approximately $113,000. Geode Capital Management LLC increased its position in DURECT by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 319,905 shares of the specialty pharmaceutical company’s stock worth $429,000 after purchasing an additional 14,658 shares in the last quarter. International Assets Investment Management LLC lifted its stake 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 valued at $28,000 after purchasing an additional 6,300 shares during the last quarter. Finally, Gagnon Securities LLC boosted its position in DURECT by 6.0% in the first quarter. Gagnon Securities LLC now owns 380,131 shares of the specialty pharmaceutical company’s stock valued at $460,000 after buying an additional 21,425 shares in the last quarter. Institutional investors own 28.03% of the company’s stock.

DURECT Company Profile

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.