Northland Capmk Brokers Reduce Earnings Estimates for DURECT

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

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

DURECT Price Performance

Shares of DURECT stock opened at $0.98 on Monday. DURECT has a 1 year low of $0.48 and a 1 year high of $1.88. The firm has a market cap of $30.42 million, a PE ratio of -1.61 and a beta of 1.13. The company has a 50 day simple moving average of $1.33 and a two-hundred day simple moving average of $1.37.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DRRX. International Assets Investment Management LLC lifted its holdings 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 last quarter. Accredited Investors Inc. purchased a new position in DURECT in the 2nd quarter worth $113,000. Geode Capital Management LLC lifted its stake in DURECT by 4.8% in the third 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 during the last quarter. Gagnon Securities LLC boosted 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 valued at $460,000 after buying an additional 21,425 shares during the period. Finally, Richmond Brothers Inc. grew its stake in shares of DURECT by 39.5% during 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 buying an additional 303,670 shares during the last quarter. 28.03% of the stock is currently owned by 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.