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

Analysts at StockNews.com began coverage on shares of DURECT (NASDAQ:DRRX) in a note issued to investors on Monday. 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 Stock Performance

NASDAQ:DRRX opened at $0.87 on Monday. The stock has a 50-day simple moving average of $1.01 and a 200 day simple moving average of $1.26. DURECT has a 52-week low of $0.51 and a 52-week high of $1.88. The company has a market cap of $27.01 million, a PE ratio of -1.43 and a beta of 0.94.

Hedge Funds Weigh In On DURECT

A hedge fund recently raised its stake in DURECT stock. Geode Capital Management LLC lifted its position in DURECT Co. (NASDAQ:DRRX) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 319,905 shares of the specialty pharmaceutical company’s stock after buying an additional 14,658 shares during the quarter. Geode Capital Management LLC owned about 1.03% of DURECT worth $429,000 as of its most recent SEC filing. 28.03% of the stock is currently owned by institutional investors.

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.