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

StockNews.com began coverage on shares of DURECT (NASDAQ:DRRX) in a research report report published on Thursday morning. The brokerage 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 note on Thursday, November 14th.

DURECT Price Performance

Shares of NASDAQ:DRRX opened at $0.80 on Thursday. The company has a market capitalization of $24.98 million, a PE ratio of -1.32 and a beta of 0.94. The business has a fifty day moving average price of $0.86 and a 200-day moving average price of $1.20. DURECT has a 1-year low of $0.68 and a 1-year high of $1.88.

Institutional Investors Weigh In On DURECT

A hedge fund recently raised its stake in DURECT stock. Geode Capital Management LLC lifted its stake in DURECT Co. (NASDAQ:DRRX) by 4.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 319,905 shares of the specialty pharmaceutical company’s stock after acquiring an additional 14,658 shares during the quarter. Geode Capital Management LLC owned 1.03% of DURECT worth $429,000 as of its most recent filing with the Securities & Exchange Commission. 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.