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

StockNews.com began coverage on shares of DURECT (NASDAQ:DRRX) in a research note issued to investors on Tuesday. The brokerage set a “sell” rating on the specialty pharmaceutical company’s stock.

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

DURECT Price Performance

Shares of DRRX opened at $0.80 on Tuesday. DURECT has a 1 year low of $0.70 and a 1 year high of $1.88. The business has a 50-day moving average of $0.80 and a 200-day moving average of $1.06. The company has a market capitalization of $24.83 million, a price-to-earnings ratio of -1.31 and a beta of 0.91.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Richmond Brothers Inc. increased its position in shares of DURECT by 12.2% during the 4th quarter. Richmond Brothers Inc. now owns 1,281,176 shares of the specialty pharmaceutical company’s stock valued at $961,000 after purchasing an additional 138,920 shares during the last quarter. Jane Street Group LLC grew its position 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 valued at $29,000 after buying an additional 28,486 shares during the period. Finally, Geode Capital Management LLC increased its holdings in DURECT by 4.8% during the third quarter. Geode Capital Management LLC now owns 319,905 shares of the specialty pharmaceutical company’s stock worth $429,000 after buying an additional 14,658 shares during the last quarter. Hedge funds and other institutional investors own 28.03% of the company’s stock.

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.