Lipocine Inc. (LPCN) Sees Large Volume Increase
Lipocine Inc. (NASDAQ:LPCN) shares saw strong trading volume on Friday . 343,506 shares traded hands during trading, an increase of 45% from the previous session’s volume of 236,721 shares.The stock last traded at $4.36 and had previously closed at $4.23.
Separately, Canaccord Genuity restated a “buy” rating and set a $6.00 target price on shares of Lipocine in a research report on Wednesday.
The stock has a 50-day moving average price of $3.81 and a 200 day moving average price of $8.16. The firm’s market cap is $81.80 million.
Lipocine (NASDAQ:LPCN) last issued its quarterly earnings data 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. Equities research analysts expect that Lipocine Inc. will post ($1.31) earnings per share for the current 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 disclosure with the SEC. The institutional investor 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 1.49% of Lipocine worth $3,508,000 at the end of the most recent reporting period.
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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