Shares of Lipocine Inc. (NASDAQ:LPCN) dropped 2.1% during trading on Tuesday . The company traded as low as $3.16 and last traded at $3.26, with a volume of 277,537 shares traded. The stock had previously closed at $3.33.

Separately, Canaccord Genuity reiterated a “buy” rating and issued a $6.00 price objective (down from $15.00) on shares of Lipocine in a research report on Saturday, July 2nd.

The stock’s market capitalization is $59.70 million. The company has a 50 day moving average price of $6.03 and a 200 day moving average price of $9.01.

Lipocine (NASDAQ:LPCN) last released its quarterly earnings results on Monday, May 9th. The specialty pharmaceutical company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.33) by $0.05. Equities research analysts anticipate that Lipocine Inc. will post ($1.33) EPS for the current year.

An institutional investor recently raised its position in Lipocine stock. Dimensional Fund Advisors LP boosted its stake in shares of Lipocine Inc. (NASDAQ:LPCN) by 73.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 271,272 shares of the specialty pharmaceutical company’s stock after buying an additional 114,448 shares during the period. Dimensional Fund Advisors LP owned approximately 1.49% of Lipocine worth $3,508,000 as of its most recent filing with the SEC.

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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