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

StockNews.com assumed coverage on shares of DURECT (NASDAQ:DRRX) in a research report issued on Tuesday. 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 report on Thursday, November 14th.

DURECT Price Performance

DURECT stock opened at $0.90 on Tuesday. The firm has a market capitalization of $28.05 million, a P/E ratio of -1.48 and a beta of 1.13. The stock has a fifty day moving average price of $1.31 and a two-hundred day moving average price of $1.37. DURECT has a 52-week low of $0.48 and a 52-week high of $1.88.

Institutional Investors Weigh In On DURECT

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its stake in DURECT by 41.3% in the second quarter. International Assets Investment Management LLC now owns 21,550 shares of the specialty pharmaceutical company’s stock worth $28,000 after purchasing an additional 6,300 shares in the last quarter. Accredited Investors Inc. bought a new position in shares of DURECT in the second quarter valued at about $113,000. Geode Capital Management LLC raised its holdings in shares of DURECT by 4.8% in the third quarter. Geode Capital Management LLC now owns 319,905 shares of the specialty pharmaceutical company’s stock valued at $429,000 after buying an additional 14,658 shares during the last quarter. Finally, Richmond Brothers Inc. lifted its position in DURECT by 39.5% during 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. 28.03% of the stock is 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.