DURECT’s (DRRX) “Neutral” Rating Reaffirmed at HC Wainwright

DURECT (NASDAQ:DRRX)‘s stock had its “neutral” rating reissued by research analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports.

Separately, StockNews.com lowered DURECT from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.00.

DURECT Price Performance

Shares of DURECT stock opened at $1.34 on Thursday. The company’s 50 day moving average price is $0.98 and its two-hundred day moving average price is $1.32. The firm has a market capitalization of $39.97 million, a P/E ratio of -0.85 and a beta of 0.82. DURECT has a fifty-two week low of $0.47 and a fifty-two week high of $7.46.

Hedge Funds Weigh In On DURECT

Large investors have recently modified their holdings of the business. Millennium Management LLC grew its stake in shares of DURECT by 2,022.8% in the second quarter. Millennium Management LLC now owns 4,421,646 shares of the specialty pharmaceutical company’s stock worth $2,114,000 after purchasing an additional 4,213,348 shares during the last quarter. Armistice Capital LLC acquired a new position in DURECT during the 1st quarter worth about $2,763,000. Renaissance Technologies LLC lifted its holdings in DURECT by 20.2% during the 1st quarter. Renaissance Technologies LLC now owns 3,500,278 shares of the specialty pharmaceutical company’s stock worth $2,345,000 after buying an additional 588,848 shares during the period. Richmond Brothers Inc. bought a new stake in shares of DURECT in the 4th quarter valued at about $306,000. Finally, Vanguard Group Inc. increased its stake in shares of DURECT by 2.2% in the third quarter. Vanguard Group Inc. now owns 10,243,592 shares of the specialty pharmaceutical company’s stock valued at $5,923,000 after buying an additional 225,402 shares during the period. Institutional investors own 28.03% of the company’s stock.

DURECT Company Profile

DURECT Corporation, a biopharmaceutical company, researches and develops medicines based on its epigenetic regulator and pharmaceutical programs. The company offers ALZET product line that consists of osmotic pumps and accessories used for research in mice, rats, and other laboratory animals. It also develops 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.