FY2024 EPS Estimates for DURECT Reduced by Northland Capmk

DURECT Co. (NASDAQ:DRRX) – Equities researchers at Northland Capmk dropped their FY2024 earnings estimates for shares of DURECT in a note issued to investors 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 estimate of ($0.67). The consensus estimate for DURECT’s current full-year earnings is ($0.64) per share.

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

DURECT Stock Performance

Shares of DRRX stock opened at $0.98 on Monday. The firm has a market cap of $30.42 million, a price-to-earnings ratio of -1.61 and a beta of 1.13. DURECT has a 52 week low of $0.48 and a 52 week high of $1.88. The firm’s 50-day simple moving average is $1.33 and its two-hundred day simple moving average is $1.37.

Hedge Funds Weigh In On DURECT

Several large investors have recently modified their holdings of the business. International Assets Investment Management LLC grew 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 buying an additional 6,300 shares in the last quarter. Accredited Investors Inc. purchased a new position in shares of DURECT in the second quarter valued at $113,000. Geode Capital Management LLC grew its position in shares of DURECT by 4.8% in the third quarter. Geode Capital Management LLC now owns 319,905 shares of the specialty pharmaceutical company’s stock valued at $429,000 after purchasing an additional 14,658 shares in the last quarter. Gagnon Securities LLC lifted its holdings in 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 in the last quarter. Finally, Richmond Brothers Inc. boosted its stake 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 period. Hedge funds and other institutional investors 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.