DURECT Corporation (NASDAQ: DRRX): Stock Forecast For 2022 Sees A A Decline Of -73.56% – Marketing Sentinel
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DURECT Corporation (NASDAQ: DRRX): Stock Forecast For 2022 Sees A A Decline Of -73.56%

In the last trading session, 1.63 million shares of the DURECT Corporation (NASDAQ:DRRX) were traded, and its beta was 1.38. Most recently the company’s share price was $0.45, and it changed around -$0.05 or -8.83% from the last close, which brings the market valuation of the company to $105.58M. DRRX currently trades at a discount to its 52-week high of $1.84, offering almost -308.89% off that amount. The share price’s 52-week low was $0.36, which indicates that the current value has risen by an impressive 20.0% since then. We note from DURECT Corporation’s average daily trading volume that its 3-month average coming to 934.93K.

DURECT Corporation stock received a consensus recommendation rating of a Buy, based on a mean score of 1.70. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended DRRX as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. DURECT Corporation is expected to report earnings per share of -$0.05 for the current quarter.

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DURECT Corporation (NASDAQ:DRRX) trade information

Instantly DRRX has showed a red trend with a performance of -8.83% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 0.6400 on Tuesday, 06/21/22 increased the stock’s daily price by 29.69%. The company’s shares are currently down -54.13% year-to-date, but still down -25.87% over the last five days. On the other hand, DURECT Corporation (NASDAQ:DRRX) is 10.72% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $5.67, which translates to bulls needing to increase their stock price by 92.06% from its current value. Analyst projections state that DRRX is forecast to be at a low of $5.00 and a high of $6.00. In order for the stock price to hit the forecast high, the stock would need to plunge -1233.33% from its current level, while the stock would need to crash -1011.11% from its current level to reach the projected low.

DURECT Corporation (DRRX) estimates and forecasts

DURECT Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -52.49 percent over the past six months and at a -18.75% annual growth rate that is well below the industry average of 11.30%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -25.00% in revenue this quarter, and will report a decrease of -25.00% in the next quarter. The year-over-year growth rate is expected to be 4.50%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $3.84 million in revenue for the current quarter. 3 analysts expect DURECT Corporation to make $4 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $3.65 million and $1.95 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 5.20%. Forecasts for the next quarter put sales growth at 105.10%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 9.10%. DURECT Corporation earnings are expected to increase by -124.20% in 2022, but the outlook is positive 15.00% per year for the next five years.

DRRX Dividends

DURECT Corporation’s next quarterly earnings report is expected to be released around March 02 and March 07.

DURECT Corporation (NASDAQ:DRRX)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.43% of DURECT Corporation shares, and 52.46% of them are in the hands of institutional investors. The stock currently has a share float of 53.22%. DURECT Corporation stock is held by 130 institutions, with Bleichroeder LP being the largest institutional investor. By Mar 30, 2022, it held 11.60% of the shares, which is about 26.41 million shares worth $17.7 million.

Lion Point Capital, LP, with 6.80% or 15.49 million shares worth $15.27 million as of Dec 30, 2021, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Dec 30, 2021. The former held 6.41 million shares worth $6.32 million, making up 2.81% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 5.2 million shares worth around $3.93 million, which represents about 2.28% of the total shares outstanding.

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