Richmond Brothers Inc. Raises Position in DURECT Co. (NASDAQ:DRRX)

Richmond Brothers Inc. raised its holdings in shares of DURECT Co. (NASDAQ:DRRX) by 12.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,281,176 shares of the specialty pharmaceutical company’s stock after acquiring an additional 138,920 shares during the period. DURECT comprises about 0.6% of Richmond Brothers Inc.’s portfolio, making the stock its 23rd largest holding. Richmond Brothers Inc.’s holdings in DURECT were worth $961,000 at the end of the most recent quarter.

Separately, Geode Capital Management LLC raised its position in DURECT by 4.8% during 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. 28.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on DURECT in a research report on Wednesday. They set a “sell” rating for the company.

DURECT Price Performance

DRRX opened at $0.80 on Wednesday. The business has a 50 day simple moving average of $0.80 and a two-hundred day simple moving average of $1.04. The firm has a market capitalization of $24.83 million, a price-to-earnings ratio of -1.31 and a beta of 0.91. DURECT Co. has a one year low of $0.70 and a one year high of $1.88.

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.