Lipocine Inc. (NASDAQ:LPCN) traded up 5.6% during mid-day trading on Wednesday . The stock traded as high as $3.59 and last traded at $3.59, with a volume of 89,766 shares changing hands. The stock had previously closed at $3.40.

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

The stock’s 50 day moving average is $4.57 and its 200 day moving average is $8.44. The firm’s market capitalization is $65.55 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 the Thomson Reuters’ consensus estimate of ($0.33) by $0.05. On average, analysts expect that Lipocine Inc. will post ($1.33) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Lipocine stock. Russell Frank Co boosted its position in Lipocine Inc. (NASDAQ:LPCN) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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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