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

StockNews.com began coverage on shares of DURECT (NASDAQ:DRRX) in a research report sent to investors on Saturday morning. The firm issued a sell rating on the specialty pharmaceutical company’s stock.

Separately, HC Wainwright restated a “neutral” rating on shares of DURECT in a report on Thursday, November 14th.

DURECT Stock Down 2.2 %

NASDAQ DRRX opened at $0.93 on Friday. The firm has a market capitalization of $28.83 million, a PE ratio of -1.52 and a beta of 1.01. The stock’s 50 day moving average is $1.10 and its 200 day moving average is $1.31. DURECT has a twelve month low of $0.51 and a twelve month high of $1.88.

Hedge Funds Weigh In On DURECT

Hedge funds have recently bought and sold shares of the company. Richmond Brothers Inc. grew its stake in shares of DURECT by 39.5% in the second quarter. Richmond Brothers Inc. now owns 1,072,014 shares of the specialty pharmaceutical company’s stock worth $1,383,000 after acquiring an additional 303,670 shares during the period. Geode Capital Management LLC boosted its holdings in DURECT by 4.8% in the third quarter. Geode Capital Management LLC now owns 319,905 shares of the specialty pharmaceutical company’s stock worth $429,000 after purchasing an additional 14,658 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in DURECT by 41.3% in the 2nd 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 during the period. 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.