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

StockNews.com began coverage on shares of DURECT (NASDAQ:DRRX) in a research report released on Wednesday morning. The brokerage issued a sell rating on the specialty pharmaceutical company’s stock.

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

DURECT Stock Down 2.5 %

Shares of NASDAQ DRRX opened at $0.91 on Wednesday. DURECT has a 12 month low of $0.48 and a 12 month high of $1.88. The company has a market cap of $28.32 million, a price-to-earnings ratio of -1.58 and a beta of 1.13. The business has a fifty day simple moving average of $1.27 and a 200-day simple moving average of $1.36.

Institutional Trading of DURECT

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