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

StockNews.com began coverage on shares of DURECT (NASDAQ:DRRX) in a research report issued to clients and investors 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 research note on Thursday, November 14th.

DURECT Stock Down 8.7 %

Shares of DRRX stock opened at $0.92 on Tuesday. The company has a market capitalization of $28.63 million, a price-to-earnings ratio of -1.51 and a beta of 1.13. DURECT has a 12-month low of $0.48 and a 12-month high of $1.88. The firm has a fifty day moving average of $1.34 and a 200-day moving average of $1.37.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its stake in shares of 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 valued at $28,000 after buying an additional 6,300 shares in the last quarter. Accredited Investors Inc. bought a new position in shares of DURECT in the 2nd quarter valued at about $113,000. Geode Capital Management LLC increased its stake 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 purchasing an additional 14,658 shares during the last quarter. Finally, Richmond Brothers Inc. raised its holdings in shares of DURECT by 39.5% in the 2nd quarter. Richmond Brothers Inc. now owns 1,072,014 shares of the specialty pharmaceutical company’s stock valued at $1,383,000 after purchasing an additional 303,670 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.