Lipocine Inc. (LPCN) Trading 9.6% Higher
Lipocine Inc. (NASDAQ:LPCN)’s share price traded up 9.6% 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 set a $6.00 price objective (down previously from $15.00) on shares of Lipocine in a research report on Saturday, July 2nd.
The company’s 50-day moving average is $5.59 and its 200 day moving average is $8.87. The company’s market cap is $67.55 million.
Lipocine (NASDAQ:LPCN) last posted its earnings results 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 forecast that Lipocine Inc. will post ($1.33) EPS for the current year.
An institutional investor recently raised its position in Lipocine stock. Russell Frank Co increased its stake in Lipocine Inc. (NASDAQ:LPCN) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 about 0.53% of Lipocine worth $1,265,000 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.