Recap: Durect Q3 Earnings
Portfolio Pulse from Benzinga Insights
Durect Corporation (NASDAQ:DRRX) reported Q3 earnings with an EPS of $-0.14, beating the estimate of $-0.42 by 66.67%. However, revenue decreased by $10.23 million compared to the same period last year. In the previous quarter, a beat on EPS estimates resulted in a 2.85% share price increase the following day.
November 13, 2023 | 9:15 pm
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Durect Corporation reported a significant earnings beat for Q3 but experienced a substantial decline in revenue compared to last year. Historically, a previous earnings beat led to a share price increase.
While Durect's EPS beat might be seen as positive, the significant drop in revenue could concern investors, leading to mixed reactions in the short term. Historical data shows a positive share price movement following an earnings beat, but the revenue decline may temper the market's response.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100