DURECT (NASDAQ:DRRX) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of DURECT (NASDAQ:DRRX) in a research note issued to investors on Tuesday. 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 Up 7.0 %

Shares of NASDAQ DRRX opened at $0.83 on Tuesday. The firm has a market cap of $25.61 million, a PE ratio of -1.35 and a beta of 0.94. DURECT has a twelve month low of $0.62 and a twelve month high of $1.88. The business has a fifty day simple moving average of $0.95 and a two-hundred day simple moving average of $1.24.

Institutional Inflows and Outflows

An institutional investor recently raised its position in DURECT stock. Richmond Brothers Inc. boosted its holdings in shares of DURECT Co. (NASDAQ:DRRX) by 39.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,072,014 shares of the specialty pharmaceutical company’s stock after buying an additional 303,670 shares during the period. DURECT makes up 2.7% of Richmond Brothers Inc.’s holdings, making the stock its 7th largest position. Richmond Brothers Inc. owned approximately 3.45% of DURECT worth $1,383,000 as of its most recent SEC filing. 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.