Lipocine Inc. (LPCN) Research Coverage Started at HC Wainwright
Research analysts at HC Wainwright began coverage on shares of Lipocine Inc. (NASDAQ:LPCN) in a report released on Friday. The firm set a “buy” rating and a $25.00 price target on the specialty pharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 499.52% from the company’s previous close.
Separately, Canaccord Genuity restated a “buy” rating and set a $6.00 target price on shares of Lipocine in a research report on Wednesday, August 10th.
Lipocine (NASDAQ:LPCN) traded up 31.5875% on Friday, hitting $5.4872. 8,216,550 shares of the company’s stock traded hands. The stock has a 50-day moving average of $3.75 and a 200-day moving average of $6.55. The stock’s market cap is $100.19 million. Lipocine has a one year low of $2.51 and a one year high of $14.80.
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Lipocine (NASDAQ:LPCN) last posted its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. On average, equities analysts forecast that Lipocine will post ($1.31) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in Lipocine by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 296,302 shares of the specialty pharmaceutical company’s stock worth $901,000 after buying an additional 4,464 shares during the last quarter. Royce & Associates LP boosted its position in Lipocine by 2.3% in the first quarter. Royce & Associates LP now owns 839,357 shares of the specialty pharmaceutical company’s stock worth $8,519,000 after buying an additional 19,134 shares during the last quarter. California State Teachers Retirement System purchased a new position in Lipocine during the second quarter worth $106,000. Landscape Capital Management L.L.C. purchased a new position in Lipocine during the first quarter worth $385,000. Finally, BlackRock Investment Management LLC boosted its position in Lipocine by 2,370.7% in the second quarter. BlackRock Investment Management LLC now owns 62,707 shares of the specialty pharmaceutical company’s stock worth $191,000 after buying an additional 60,169 shares during the last quarter. Institutional investors own 47.23% of the company’s stock.
Lipocine Company Profile
Lipocine Inc is a specialty pharmaceutical company. The Company is focused on applying its oral drug delivery technology for the development of pharmaceutical products in the area of men’s and women’s health. Its primary development programs are based on oral delivery solutions for bioavailable drugs.
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