StockNews.com Initiates Coverage on DURECT (NASDAQ:DRRX)

Equities researchers at StockNews.com began coverage on shares of DURECT (NASDAQ:DRRX) in a research note issued to investors on Wednesday. The firm set a “sell” rating on the specialty pharmaceutical company’s stock.

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

DURECT Stock Performance

DRRX opened at $0.94 on Wednesday. DURECT has a fifty-two week low of $0.48 and a fifty-two week high of $1.88. The firm has a 50-day moving average of $1.28 and a 200 day moving average of $1.36. The firm has a market cap of $29.05 million, a P/E ratio of -1.53 and a beta of 1.13.

Institutional Trading of DURECT

Several hedge funds and other institutional investors have recently modified their holdings of the business. Richmond Brothers Inc. boosted its holdings in DURECT by 39.5% in the 2nd quarter. Richmond Brothers Inc. now owns 1,072,014 shares of the specialty pharmaceutical company’s stock worth $1,383,000 after buying an additional 303,670 shares during the period. Accredited Investors Inc. purchased a new stake in shares of DURECT during the second quarter worth $113,000. Geode Capital Management LLC boosted its holdings in shares of DURECT by 4.8% in the third quarter. Geode Capital Management LLC now owns 319,905 shares of the specialty pharmaceutical company’s stock worth $429,000 after acquiring an additional 14,658 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of DURECT by 41.3% in 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 purchasing an additional 6,300 shares in the last quarter. Institutional investors own 28.03% of the company’s stock.

DURECT Company Profile

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.