DURECT (NASDAQ:DRRX) Now Covered by StockNews.com

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

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

DURECT Stock Performance

Shares of DRRX opened at $0.87 on Monday. The stock has a fifty day moving average price of $0.99 and a two-hundred day moving average price of $1.26. The company has a market cap of $26.86 million, a price-to-earnings ratio of -1.42 and a beta of 0.94. DURECT has a 52-week low of $0.52 and a 52-week high of $1.88.

Institutional Investors Weigh In On DURECT

A hedge fund recently raised its stake in DURECT stock. Geode Capital Management LLC raised its holdings in DURECT Co. (NASDAQ:DRRX) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 319,905 shares of the specialty pharmaceutical company’s stock after acquiring an additional 14,658 shares during the period. Geode Capital Management LLC owned about 1.03% of DURECT worth $429,000 as of its most recent filing with the Securities and Exchange Commission. 28.03% of the stock is currently owned by institutional investors.

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.