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

StockNews.com assumed coverage on shares of DURECT (NASDAQ:DRRX) in a research note issued to investors on Sunday morning. The firm issued 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 Down 0.1 %

DURECT stock opened at $0.79 on Friday. The stock has a 50-day simple moving average of $0.82 and a 200 day simple moving average of $1.10. The stock has a market capitalization of $24.49 million, a price-to-earnings ratio of -1.29 and a beta of 0.91. DURECT has a 12-month low of $0.70 and a 12-month high of $1.88.

Institutional Investors Weigh In On DURECT

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC increased its position in DURECT by 266.0% in the fourth quarter. Jane Street Group LLC now owns 39,196 shares of the specialty pharmaceutical company’s stock worth $29,000 after purchasing an additional 28,486 shares during the period. Richmond Brothers Inc. boosted its stake in shares of DURECT by 12.2% in 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. Finally, Geode Capital Management LLC boosted its stake in shares of DURECT by 4.8% in the 3rd 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 during the last quarter. 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.