Northland Capmk Reduces Earnings Estimates for DURECT

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

Other equities analysts have also issued research reports about the company. StockNews.com assumed coverage on DURECT in a research note on Monday, November 11th. They issued a “sell” rating for the company. HC Wainwright reissued a “neutral” rating on shares of DURECT in a report on Thursday, November 14th.

DURECT Trading Down 8.7 %

NASDAQ:DRRX opened at $0.92 on Monday. DURECT has a twelve month low of $0.48 and a twelve month high of $1.88. The company’s 50 day moving average is $1.34 and its two-hundred day moving average is $1.37. The company has a market cap of $28.63 million, a PE ratio of -1.51 and a beta of 1.13.

Institutional Investors Weigh In On DURECT

Several hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its stake in shares of DURECT by 41.3% in the second 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 during the last quarter. Accredited Investors Inc. acquired a new position in DURECT in the second quarter valued at approximately $113,000. Geode Capital Management LLC boosted its position in DURECT by 4.8% in 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. Gagnon Securities LLC grew its stake in shares of DURECT by 6.0% during the 1st quarter. Gagnon Securities LLC now owns 380,131 shares of the specialty pharmaceutical company’s stock worth $460,000 after purchasing an additional 21,425 shares during the period. Finally, Richmond Brothers Inc. increased its holdings in shares of DURECT by 39.5% during the 2nd quarter. Richmond Brothers Inc. now owns 1,072,014 shares of the specialty pharmaceutical company’s stock valued at $1,383,000 after purchasing an additional 303,670 shares in the last quarter. 28.03% of the stock is owned by hedge funds and other institutional investors.

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.