Lipocine Inc. (LPCN) Stock Rating Reaffirmed by Canaccord Genuity
Lipocine Inc. (NASDAQ:LPCN)‘s stock had its “buy” rating restated by research analysts at Canaccord Genuity in a note issued to investors on Tuesday. They currently have a $15.00 target price on the specialty pharmaceutical company’s stock, up from their prior target price of $6.00. Canaccord Genuity’s target price would indicate a potential upside of 226.09% from the stock’s previous close.
Separately, HC Wainwright started coverage on shares of Lipocine in a report on Friday, October 7th. They issued a “buy” rating and a $25.00 price target for the company.
Shares of Lipocine (NASDAQ:LPCN) opened at 4.60 on Tuesday. Lipocine has a 12-month low of $2.51 and a 12-month high of $14.80. The stock’s market cap is $83.99 million. The stock has a 50 day moving average price of $3.90 and a 200-day moving average price of $6.41.
Lipocine (NASDAQ:LPCN) last issued its quarterly earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. Equities analysts anticipate that Lipocine will post ($1.31) EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the stock. Landscape Capital Management L.L.C. bought a new stake in shares of Lipocine during the first quarter worth $385,000. Royce & Associates LP raised its stake in Lipocine by 2.3% in the first quarter. Royce & Associates LP now owns 839,357 shares of the specialty pharmaceutical company’s stock worth $8,519,000 after buying an additional 19,134 shares in the last quarter. DRW Securities LLC acquired a new stake in Lipocine during the second quarter worth approximately $443,000. Carlson Capital L P raised its stake in Lipocine by 88.3% in the second quarter. Carlson Capital L P now owns 510,000 shares of the specialty pharmaceutical company’s stock worth $1,550,000 after buying an additional 239,170 shares in the last quarter. Finally, State Street Corp raised its stake in Lipocine by 1,408.9% in the second quarter. State Street Corp now owns 200,679 shares of the specialty pharmaceutical company’s stock worth $609,000 after buying an additional 187,379 shares in the last quarter. 47.23% of the stock is owned by institutional investors and hedge funds.
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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