DURECT (NASDAQ:DRRX) Earns “Neutral” Rating from HC Wainwright

HC Wainwright reissued their neutral rating on shares of DURECT (NASDAQ:DRRX) in a research note released on Thursday morning,Benzinga reports.

Separately, StockNews.com started coverage on DURECT in a research report on Monday, November 11th. They issued a “sell” rating on the stock.

DURECT Price Performance

Shares of DURECT stock opened at $1.01 on Thursday. The business has a 50 day moving average price of $1.35 and a 200 day moving average price of $1.37. The company has a market capitalization of $31.35 million, a P/E ratio of -1.66 and a beta of 1.13. DURECT has a 1 year low of $0.48 and a 1 year high of $1.88.

Hedge Funds Weigh In On DURECT

Several institutional investors and hedge funds have recently modified their holdings of DRRX. International Assets Investment Management LLC grew its stake in 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 worth $28,000 after acquiring an additional 6,300 shares during the period. Accredited Investors Inc. purchased a new stake in shares of DURECT in the second quarter valued at $113,000. Tocqueville Asset Management L.P. increased its stake in DURECT by 10.8% in the first quarter. Tocqueville Asset Management L.P. now owns 256,220 shares of the specialty pharmaceutical company’s stock valued at $310,000 after purchasing an additional 25,000 shares during the last quarter. Geode Capital Management LLC lifted its position in DURECT by 4.8% during the third quarter. Geode Capital Management LLC now owns 319,905 shares of the specialty pharmaceutical company’s stock worth $429,000 after buying an additional 14,658 shares during the period. Finally, Gagnon Securities LLC lifted its position in DURECT by 6.0% during the first quarter. Gagnon Securities LLC now owns 380,131 shares of the specialty pharmaceutical company’s stock worth $460,000 after buying an additional 21,425 shares during the period. Hedge funds and other institutional investors 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.