HC Wainwright Reaffirms “Neutral” Rating for DURECT (NASDAQ:DRRX)

HC Wainwright reaffirmed their neutral rating on shares of DURECT (NASDAQ:DRRX) in a research report report published on Thursday,Benzinga reports.

Separately, StockNews.com started coverage on DURECT in a research note on Monday, November 11th. They set a “sell” rating for the company.

DURECT Stock Down 9.8 %

Shares of DRRX stock opened at $1.01 on Thursday. The company’s fifty day simple moving average is $1.35 and its two-hundred day simple moving average is $1.37. DURECT has a 52 week low of $0.48 and a 52 week high of $1.88. The stock has a market cap of $31.35 million, a P/E ratio of -1.66 and a beta of 1.13.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DRRX. International Assets Investment Management LLC lifted its stake in shares of 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 valued at $28,000 after purchasing an additional 6,300 shares during the last quarter. Accredited Investors Inc. bought a new stake in DURECT in the second quarter worth $113,000. Tocqueville Asset Management L.P. boosted its stake in DURECT by 10.8% during the first quarter. Tocqueville Asset Management L.P. now owns 256,220 shares of the specialty pharmaceutical company’s stock worth $310,000 after buying an additional 25,000 shares during the period. Geode Capital Management LLC increased its position in 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 acquiring an additional 14,658 shares during the last quarter. Finally, Gagnon Securities LLC raised its stake in shares of DURECT by 6.0% in the first quarter. Gagnon Securities LLC now owns 380,131 shares of the specialty pharmaceutical company’s stock valued at $460,000 after acquiring an additional 21,425 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.