Northland Capmk Has Weak Forecast for DURECT FY2024 Earnings

DURECT Co. (NASDAQ:DRRX) – Stock analysts at Northland Capmk decreased their FY2024 earnings estimates for DURECT in a report released on Thursday, November 14th. Northland Capmk analyst C. Byrnes now forecasts that the specialty pharmaceutical company will earn ($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.

DRRX has been the topic of a number of other reports. HC Wainwright reaffirmed a “neutral” rating on shares of DURECT in a research note on Thursday, November 14th. StockNews.com assumed coverage on DURECT in a research report on Monday, November 11th. They issued a “sell” rating on the stock.

DURECT Stock Down 8.7 %

Shares of NASDAQ DRRX opened at $0.92 on Monday. The firm has a market cap of $28.63 million, a price-to-earnings ratio of -1.51 and a beta of 1.13. The company’s 50-day simple moving average is $1.34 and its 200-day simple moving average is $1.37. DURECT has a 52-week low of $0.48 and a 52-week high of $1.88.

Institutional Trading of DURECT

A number of hedge funds have recently bought and sold shares of DRRX. International Assets Investment Management LLC increased its stake 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 stake in shares of DURECT in the second quarter valued at about $113,000. Geode Capital Management LLC increased its position 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 worth $429,000 after purchasing an additional 14,658 shares during the last quarter. Gagnon Securities LLC increased 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 purchasing an additional 21,425 shares during the last quarter. Finally, Richmond Brothers Inc. boosted its holdings 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 valued at $1,383,000 after purchasing an additional 303,670 shares during the last quarter. Institutional investors and hedge funds 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.