DURECT (NASDAQ:DRRX) Now Covered by StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of DURECT (NASDAQ:DRRX) in a report released on Wednesday. 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 report on Thursday, November 14th.

DURECT Stock Down 3.5 %

Shares of DRRX opened at $0.94 on Wednesday. The stock has a market cap of $29.05 million, a P/E ratio of -1.53 and a beta of 1.13. The business’s fifty day moving average is $1.28 and its 200 day moving average is $1.36. DURECT has a 12-month low of $0.48 and a 12-month high of $1.88.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DRRX. International Assets Investment Management LLC lifted its stake in DURECT by 41.3% during 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 acquiring an additional 6,300 shares in the last quarter. Accredited Investors Inc. bought a new position in shares of DURECT during the second quarter valued at about $113,000. Geode Capital Management LLC lifted its position 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 valued at $429,000 after purchasing an additional 14,658 shares in the last quarter. Finally, Richmond Brothers Inc. boosted its holdings in DURECT by 39.5% during the second quarter. Richmond Brothers Inc. now owns 1,072,014 shares of the specialty pharmaceutical company’s stock worth $1,383,000 after purchasing an additional 303,670 shares during the last quarter. Hedge funds and other institutional investors own 28.03% of the company’s stock.

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.