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

Equities research analysts at StockNews.com began coverage on shares of DURECT (NASDAQ:DRRX) in a research report issued to clients and investors on Friday. 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 3.3 %

Shares of NASDAQ:DRRX opened at $0.75 on Friday. The business has a 50 day moving average price of $1.14 and a 200 day moving average price of $1.34. DURECT has a twelve month low of $0.48 and a twelve month high of $1.88. The company has a market cap of $23.28 million, a price-to-earnings ratio of -1.23 and a beta of 1.01.

Institutional Investors Weigh In On DURECT

Several large investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in DURECT by 41.3% during the 2nd quarter. International Assets Investment Management LLC now owns 21,550 shares of the specialty pharmaceutical company’s stock worth $28,000 after buying an additional 6,300 shares during the period. Accredited Investors Inc. bought a new stake in shares of DURECT in the second quarter valued at about $113,000. Geode Capital Management LLC lifted its holdings in shares of DURECT by 4.8% in the third quarter. Geode Capital Management LLC now owns 319,905 shares of the specialty pharmaceutical company’s stock valued at $429,000 after purchasing an additional 14,658 shares in the last quarter. Finally, Richmond Brothers Inc. boosted its position in shares of DURECT by 39.5% during the second quarter. Richmond Brothers Inc. now owns 1,072,014 shares of the specialty pharmaceutical company’s stock worth $1,383,000 after buying 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.