Lipocine Inc. (LPCN) Trading Up 9.6%
Shares of Lipocine Inc. (NASDAQ:LPCN) were up 9.6% during trading on Thursday . The stock traded as high as $3.64 and last traded at $3.64, with a volume of 242,718 shares trading hands. The stock had previously closed at $3.32.
Separately, Canaccord Genuity reaffirmed a “buy” rating and issued a $6.00 price objective (down from $15.00) on shares of Lipocine in a report on Saturday, July 2nd.
The stock has a 50 day moving average price of $5.87 and a 200 day moving average price of $8.97. The stock’s market cap is $64.82 million.
Lipocine (NASDAQ:LPCN) last issued its quarterly earnings results on Monday, May 9th. The specialty pharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.05. On average, analysts anticipate that Lipocine Inc. will post ($1.33) EPS for the current fiscal year.
A hedge fund recently raised its stake in Lipocine stock. Dimensional Fund Advisors LP raised its position in shares of Lipocine Inc. (NASDAQ:LPCN) by 73.0% during the fourth quarter, according to its most recent 13F 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 about 1.49% of Lipocine worth $3,508,000 at the end of the most recent quarter.
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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