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

Research analysts at StockNews.com initiated coverage on shares of DURECT (NASDAQ:DRRX) in a research note issued to investors on Saturday. The brokerage 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 note on Thursday, November 14th.

DURECT Stock Performance

NASDAQ:DRRX opened at $0.95 on Friday. The company has a market cap of $29.49 million, a price-to-earnings ratio of -1.56 and a beta of 1.01. The stock’s fifty day moving average price is $1.10 and its two-hundred day moving average price is $1.31. DURECT has a 52-week low of $0.49 and a 52-week high of $1.88.

Institutional Trading of DURECT

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its holdings in shares of 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 worth $28,000 after acquiring an additional 6,300 shares during the period. Geode Capital Management LLC increased its holdings in DURECT by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 319,905 shares of the specialty pharmaceutical company’s stock worth $429,000 after purchasing an additional 14,658 shares in the last quarter. Finally, Richmond Brothers Inc. raised its stake in shares of DURECT by 39.5% in 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 purchasing an additional 303,670 shares during the period. 28.03% of the stock is currently owned by institutional investors and hedge funds.

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.