Lipocine Inc. (NASDAQ:LPCN)’s share price dropped 4.1% on Monday . The stock traded as low as $3.54 and last traded at $3.54, with a volume of 73,428 shares traded. The stock had previously closed at $3.69.

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

The firm’s market capitalization is $62.53 million. The firm has a 50-day moving average of $4.72 and a 200-day moving average of $8.49.

Lipocine (NASDAQ:LPCN) last announced its quarterly earnings data on Monday, May 9th. The specialty pharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by $0.05. Analysts expect that Lipocine Inc. will post ($1.33) EPS for the current fiscal year.

A hedge fund recently raised its stake in Lipocine stock. Russell Frank Co boosted its stake in shares of Lipocine Inc. (NASDAQ:LPCN) by 7.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 97,583 shares of the specialty pharmaceutical company’s stock after buying an additional 7,107 shares during the period. Russell Frank Co owned approximately 0.53% of Lipocine worth $1,265,000 as of its most recent SEC filing.

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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