FY2024 EPS Estimates for DURECT Decreased by Northland Capmk

DURECT Co. (NASDAQ:DRRX) – Stock analysts at Northland Capmk reduced their FY2024 earnings per share (EPS) estimates for DURECT in a report issued on Thursday, November 14th. Northland Capmk analyst C. Byrnes now anticipates that the specialty pharmaceutical company will post earnings of ($0.68) per share for the year, down from their prior forecast of ($0.67). The consensus estimate for DURECT’s current full-year earnings is ($0.64) per share.

DRRX has been the topic of several other research reports. HC Wainwright reiterated a “neutral” rating on shares of DURECT in a report on Thursday. StockNews.com assumed coverage on shares of DURECT in a report on Monday, November 11th. They issued a “sell” rating on the stock.

DURECT Stock Performance

Shares of DRRX stock opened at $1.01 on Monday. The stock’s 50 day simple moving average is $1.35 and its 200 day simple moving average is $1.37. DURECT has a twelve month low of $0.48 and a twelve month high of $1.88. The company has a market capitalization of $31.35 million, a price-to-earnings ratio of -1.66 and a beta of 1.13.

Institutional Investors Weigh In On DURECT

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