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

Stock analysts at StockNews.com began coverage on shares of DURECT (NASDAQ:DRRX) in a report issued on Wednesday. The firm set a “sell” rating on the specialty pharmaceutical company’s stock.

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

DURECT Stock Performance

NASDAQ DRRX opened at $0.84 on Wednesday. DURECT has a twelve month low of $0.68 and a twelve month high of $1.88. The stock has a market cap of $26.07 million, a PE ratio of -1.38 and a beta of 0.94. The firm has a 50-day simple moving average of $0.87 and a 200 day simple moving average of $1.21.

Hedge Funds Weigh In On DURECT

An institutional investor recently raised its position in DURECT stock. Geode Capital Management LLC boosted its stake in DURECT Co. (NASDAQ:DRRX) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,905 shares of the specialty pharmaceutical company’s stock after buying an additional 14,658 shares during the quarter. Geode Capital Management LLC owned approximately 1.03% of DURECT worth $429,000 at the end of the most recent quarter. 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.