DURECT (NASDAQ:DRRX) Coverage Initiated at Jonestrading

Stock analysts at Jonestrading began coverage on shares of DURECT (NASDAQ:DRRX – Get Rating) in a report released on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $37.00 price target on the specialty pharmaceutical company’s stock.

DRRX has been the topic of a number of other reports. Cantor Fitzgerald lifted their price objective on DURECT from $37.00 to $44.00 in a research note on Wednesday, March 8th. HC Wainwright lowered their target price on DURECT from $35.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, March 8th. StockNews.com started coverage on DURECT in a report on Wednesday, January 4th. They issued a “hold” rating for the company. Finally, Oppenheimer lifted their target price on DURECT from $6.00 to $32.00 in a report on Wednesday, December 7th.

DURECT Price Performance

DURECT stock opened at $4.71 on Tuesday. The stock’s 50 day moving average is $5.74 and its 200 day moving average is $5.36. The firm has a market cap of $115.35 million, a P/E ratio of -3.02 and a beta of 1.46. DURECT has a one year low of $3.16 and a one year high of $9.70.

Institutional Trading of DURECT

Several hedge funds have recently bought and sold shares of the business. Millennium Management LLC lifted 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 valued at $2,114,000 after buying an additional 4,213,348 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of DURECT by 20.2% in the first quarter. Renaissance Technologies LLC now owns 3,500,278 shares of the specialty pharmaceutical company’s stock valued at $2,345,000 after buying an additional 588,848 shares in the last quarter. Montchanin Asset Management LLC bought a new position in shares of DURECT in the second quarter valued at $232,000. Beirne Wealth Consulting Services LLC lifted its stake in shares of DURECT by 9.8% in the third quarter. Beirne Wealth Consulting Services LLC now owns 3,369,906 shares of the specialty pharmaceutical company’s stock valued at $1,948,000 after buying an additional 299,610 shares in the last quarter. Finally, Vanguard Group Inc. lifted 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 in the last quarter.

About DURECT

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DURECT Corp. focuses on advancing novel and potentially lifesaving investigational therapies derived from its Epigenetic Regulator Program. Its pipeline is called DUR-928, an endogenous sulfated oxysterol and an epigenetic regulator. The company was founded by James E. Brown and Felix Theeuwes on February 6, 1998 and is headquartered in Cupertino, CA.