DURECT (NASDAQ:DRRX) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of DURECT (NASDAQ:DRRX) in a report issued 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 Performance

Shares of DURECT stock opened at $0.77 on Friday. The stock has a 50 day moving average of $0.83 and a 200 day moving average of $1.13. The firm has a market capitalization of $23.87 million, a price-to-earnings ratio of -1.26 and a beta of 0.91. DURECT has a fifty-two week low of $0.70 and a fifty-two week high of $1.88.

Hedge Funds Weigh In On DURECT

A number of hedge funds have recently made changes to their positions in DRRX. Jane Street Group LLC lifted its stake in DURECT by 266.0% during the fourth quarter. Jane Street Group LLC now owns 39,196 shares of the specialty pharmaceutical company’s stock worth $29,000 after purchasing an additional 28,486 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of DURECT by 4.8% in the 3rd 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 period. Finally, Richmond Brothers Inc. raised its holdings in shares of DURECT by 12.2% in the 4th quarter. Richmond Brothers Inc. now owns 1,281,176 shares of the specialty pharmaceutical company’s stock valued at $961,000 after buying an additional 138,920 shares during the period. Hedge funds and other 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.