Lipocine Inc. (LPCN) Receives “Buy” Rating from Canaccord Genuity
Lipocine Inc. (NASDAQ:LPCN)‘s stock had its “buy” rating reiterated by investment analysts at Canaccord Genuity in a report issued on Tuesday. They presently have a $15.00 price target on the specialty pharmaceutical company’s stock, up from their previous price target of $6.00. Canaccord Genuity’s target price indicates a potential upside of 226.09% from the company’s previous close.
Separately, HC Wainwright initiated coverage on Lipocine in a research note on Friday, October 7th. They issued a “buy” rating and a $25.00 price target for the company.
Shares of Lipocine (NASDAQ:LPCN) traded down 15.13% during trading on Tuesday, reaching $4.60. The company had a trading volume of 1,419,522 shares. The company’s market capitalization is $83.99 million. Lipocine has a 52 week low of $2.51 and a 52 week high of $14.80. The stock’s 50-day moving average price is $3.90 and its 200-day moving average price is $6.41.
Lipocine (NASDAQ:LPCN) last released its quarterly earnings data on Tuesday, August 9th. The specialty pharmaceutical company reported ($0.32) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.05. On average, equities analysts expect that Lipocine will post ($1.31) EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in LPCN. California State Teachers Retirement System acquired a new position in shares of Lipocine during the second quarter valued at $106,000. BlackRock Investment Management LLC raised its position in shares of 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 valued at $191,000 after buying an additional 60,169 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Lipocine during the first quarter valued at $385,000. DRW Securities LLC acquired a new position in shares of Lipocine during the second quarter valued at $443,000. Finally, State Street Corp raised its position in shares of Lipocine by 1,408.9% in the second quarter. State Street Corp now owns 200,679 shares of the specialty pharmaceutical company’s stock valued at $609,000 after buying an additional 187,379 shares in the last quarter. Hedge funds and other institutional investors own 47.23% of the company’s stock.
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.
Receive News & Stock Ratings for Lipocine Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lipocine Inc. and related stocks with our FREE daily email newsletter.