FY2024 EPS Estimates for DURECT Decreased by Northland Capmk

DURECT Co. (NASDAQ:DRRX) – Equities research analysts at Northland Capmk cut their FY2024 earnings per share estimates for DURECT in a report released on Thursday, November 14th. Northland Capmk analyst C. Byrnes now expects 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 also recently issued research reports about the stock. HC Wainwright restated a “neutral” rating on shares of DURECT in a research note on Thursday. StockNews.com began coverage on shares of DURECT in a research report on Monday, November 11th. They issued a “sell” rating on the stock.

DURECT Price Performance

DURECT stock opened at $1.01 on Monday. The business has a 50 day simple moving average of $1.35 and a 200 day simple moving average of $1.37. The company has a market capitalization of $31.35 million, a PE ratio of -1.66 and a beta of 1.13. DURECT has a one year low of $0.48 and a one year high of $1.88.

Hedge Funds Weigh In On DURECT

A number of institutional investors and hedge funds have recently bought and sold shares of DRRX. 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 purchasing an additional 303,670 shares during the last quarter. Accredited Investors Inc. acquired a new position in DURECT during the 2nd quarter worth $113,000. Gagnon Securities LLC boosted its position in DURECT by 6.0% in the 1st 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 last quarter. Geode Capital Management LLC increased its stake in shares of DURECT by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 319,905 shares of the specialty pharmaceutical company’s stock valued at $429,000 after buying an additional 14,658 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of DURECT by 41.3% during the second quarter. International Assets Investment Management LLC now owns 21,550 shares of the specialty pharmaceutical company’s stock valued at $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.

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.