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

Investment analysts at StockNews.com began coverage on shares of DURECT (NASDAQ:DRRX) in a report released on Friday. The brokerage set a “sell” rating on the specialty pharmaceutical company’s stock.

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

DURECT Trading Down 3.3 %

Shares of NASDAQ:DRRX opened at $0.75 on Friday. DURECT has a twelve month low of $0.48 and a twelve month high of $1.88. The firm has a market cap of $23.28 million, a P/E ratio of -1.23 and a beta of 1.01. The company has a 50 day moving average of $1.14 and a 200-day moving average of $1.34.

Institutional Trading of DURECT

Several institutional investors have recently made changes to their positions in DRRX. Richmond Brothers Inc. lifted its position 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of DURECT by 4.8% during 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 in the last quarter. Accredited Investors Inc. purchased a new stake in shares of DURECT during the second quarter worth $113,000. Finally, International Assets Investment Management LLC boosted its position in DURECT by 41.3% during 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 during the last quarter. 28.03% of the stock is currently owned by institutional investors and hedge funds.

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.