DURECT (NASDAQ:DRRX) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of DURECT (NASDAQ:DRRX) in a report issued on Wednesday. The brokerage set a “sell” rating on the specialty pharmaceutical company’s stock.

DURECT Price Performance

NASDAQ DRRX opened at $0.80 on Wednesday. The stock has a market capitalization of $24.83 million, a price-to-earnings ratio of -1.31 and a beta of 0.91. DURECT has a one year low of $0.70 and a one year high of $1.88. The business’s fifty day moving average is $0.80 and its 200-day moving average is $1.03.

Institutional Investors Weigh In On DURECT

A number of hedge funds have recently made changes to their positions in DRRX. Jane Street Group LLC raised its stake in shares of DURECT by 266.0% during the 4th 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. Geode Capital Management LLC increased its holdings in DURECT by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 319,905 shares of the specialty pharmaceutical company’s stock worth $429,000 after acquiring an additional 14,658 shares during the last quarter. Finally, Richmond Brothers Inc. increased its holdings in DURECT by 12.2% in the 4th quarter. Richmond Brothers Inc. now owns 1,281,176 shares of the specialty pharmaceutical company’s stock worth $961,000 after acquiring an additional 138,920 shares during the last quarter. 28.03% of the stock is currently owned by institutional investors.

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.