DURECT (NASDAQ:DRRX) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of DURECT (NASDAQ:DRRX) in a note issued to investors on Tuesday. The firm set a “sell” rating on the specialty pharmaceutical company’s stock.

Separately, HC Wainwright reiterated a “neutral” rating on shares of DURECT in a research note on Thursday, November 14th.

DURECT Stock Performance

DRRX stock opened at $0.80 on Tuesday. The stock has a fifty day moving average of $0.80 and a 200-day moving average of $1.06. DURECT has a fifty-two week low of $0.70 and a fifty-two week high of $1.88. The company has a market capitalization of $24.83 million, a price-to-earnings ratio of -1.31 and a beta of 0.91.

Institutional Investors Weigh In On DURECT

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of DURECT by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 319,905 shares of the specialty pharmaceutical company’s stock valued at $429,000 after purchasing an additional 14,658 shares during the period. Richmond Brothers Inc. grew its holdings in DURECT by 12.2% during the 4th quarter. Richmond Brothers Inc. now owns 1,281,176 shares of the specialty pharmaceutical company’s stock valued at $961,000 after buying an additional 138,920 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in DURECT by 266.0% during the 4th quarter. Jane Street Group LLC now owns 39,196 shares of the specialty pharmaceutical company’s stock valued at $29,000 after buying an additional 28,486 shares in the last quarter. Hedge funds and other institutional investors 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.