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

StockNews.com assumed coverage on shares of DURECT (NASDAQ:DRRX) in a research note released on Wednesday. The firm issued 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 Trading Down 3.6 %

DURECT stock opened at $0.88 on Wednesday. The stock has a fifty day moving average price of $1.25 and a 200 day moving average price of $1.36. DURECT has a 52 week low of $0.48 and a 52 week high of $1.88. The firm has a market capitalization of $27.32 million, a P/E ratio of -1.44 and a beta of 1.13.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DRRX. Accredited Investors Inc. purchased a new stake in DURECT during the second quarter valued at about $113,000. International Assets Investment Management LLC lifted its stake in shares of DURECT by 41.3% in the 2nd quarter. International Assets Investment Management LLC now owns 21,550 shares of the specialty pharmaceutical company’s stock valued at $28,000 after purchasing an additional 6,300 shares in the last quarter. Richmond Brothers Inc. grew its holdings in shares of DURECT by 39.5% during the 2nd quarter. Richmond Brothers Inc. now owns 1,072,014 shares of the specialty pharmaceutical company’s stock worth $1,383,000 after purchasing an additional 303,670 shares during the period. Finally, Geode Capital Management LLC increased 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 worth $429,000 after purchasing an additional 14,658 shares in the last quarter. 28.03% of the stock is owned by hedge funds and other institutional investors.

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.