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

Research analysts at StockNews.com assumed coverage on shares of DURECT (NASDAQ:DRRX) in a research report issued on Monday. The firm 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 report on Thursday, November 14th.

DURECT Stock Up 0.5 %

DRRX opened at $0.87 on Monday. DURECT has a 12-month low of $0.52 and a 12-month high of $1.88. The firm has a market capitalization of $27.01 million, a P/E ratio of -1.43 and a beta of 0.94. The stock’s 50 day moving average price is $0.98 and its two-hundred day moving average price is $1.25.

Hedge Funds Weigh In On DURECT

A hedge fund recently raised its stake in DURECT stock. Geode Capital Management LLC lifted its position in DURECT Co. (NASDAQ:DRRX) by 4.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 319,905 shares of the specialty pharmaceutical company’s stock after purchasing an additional 14,658 shares during the quarter. Geode Capital Management LLC owned 1.03% of DURECT worth $429,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.