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

StockNews.com initiated coverage on shares of DURECT (NASDAQ:DRRX) in a note issued to investors on Saturday. 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 10.7 %

NASDAQ:DRRX opened at $0.95 on Friday. The firm has a market capitalization of $29.49 million, a price-to-earnings ratio of -1.56 and a beta of 1.01. DURECT has a twelve month low of $0.49 and a twelve month high of $1.88. The stock’s 50 day moving average price is $1.10 and its two-hundred day moving average price is $1.31.

Institutional Investors Weigh In On DURECT

A number of large investors have recently added to or reduced their stakes in the business. Richmond Brothers Inc. boosted its position 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 period. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 14,658 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of 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 worth $28,000 after buying an additional 6,300 shares during the period. 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.