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DURECT Corporation (NASDAQ: DRRX): What Matters Now

DURECT Corporation (NASDAQ:DRRX) shares, rose in value on Friday, 08/05/22, with the stock price down by -4.97% to the previous day’s close as strong demand from buyers drove the stock to $0.60.

Actively observing the price movement in the last trading, the stock closed the session at $0.63, falling within a range of $0.5334 and $0.63. The value of beta (5-year monthly) was 1.46. Referring to stock’s 52-week performance, its high was $1.44, and the low was $0.36. On the whole, DRRX has fluctuated by 28.64% over the past month.

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With the market capitalization of DURECT Corporation currently standing at about $122.06 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 02, 2022 – Mar 07, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0, which is expected to increase to -$0.05 for fiscal year -$0.19 and then to about -$0.16 by fiscal year 2023. Data indicates that the EPS growth is expected to be -18.80% in 2023, while the next year’s EPS growth is forecast to be 15.80%.

Analysts have estimated the company’s revenue for the quarter at $3.84 million, with a low estimate of $1.4 million and a high estimate of $5.9 million. According to the average forecast, sales growth in current quarter could jump up 5.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $14.6 million, representing an increase of 4.50% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that DRRX’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a Hold.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of DRRX currently trading nearly 25.48% and 21.69% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 65.26, while the 7-day volatility ratio is showing 10.69% which for the 30-day chart, stands at 8.61%. Furthermore, DURECT Corporation (DRRX)’s beta value is 1.37, and its average true range (ATR) is 0.04.

A comparison of DURECT Corporation (DRRX) with its peers suggests the former has fared considerably weaker in the market. DRRX showed an intraday change of -4.97% in last session, and over the past year, it shrunk by -55.65%%. In comparison, Eli Lilly and Company (LLY) has moved lower at -1.46% on the day and was up 14.05% over the past 12 months. On the other hand, the price of Johnson & Johnson (JNJ) has fallen -0.40% on the day. The stock, however, is off -1.49% from where it was a year ago. Additionally, there is a loss of -1.18% for Pfizer Inc. (PFE) in last trading while the stock has seen an overall depriciation of 9.34%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.16%. Meanwhile, the Dow Jones Industrial Improved by 0.23%.

Data on historical trading for DURECT Corporation (NASDAQ:DRRX) indicates that the trading volumes over the past 10 days have averaged 0.55 million and over the past 3 months, they’ve averaged 1.16 million. According to company’s latest data on outstanding shares, there are 227.69 million shares outstanding.

Nearly 0.20% of DURECT Corporation’s shares belong to company insiders and institutional investors own 52.10% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.98 million shares as on Jul 14, 2022, resulting in a short ratio of 2.16. According to the data, the short interest in DURECT Corporation (DRRX) stood at 1.75% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 10.64 million. The stock has fallen by -39.27% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the DRRX stock heading into the next quarter.

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