Lipocine Inc. (NASDAQ:LPCN) shares 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 restated a “buy” rating and issued a $6.00 target price (down previously from $15.00) on shares of Lipocine in a report on Saturday, July 2nd.

The company’s market capitalization is $65.73 million. The stock’s 50-day moving average is $4.34 and its 200 day moving average is $8.37.

Lipocine (NASDAQ:LPCN) last issued its earnings results on Monday, May 9th. The specialty pharmaceutical company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.05. On average, equities analysts expect that Lipocine Inc. will post ($1.33) earnings per share for the current year.

An institutional investor recently raised its position in Lipocine stock. Russell Frank Co boosted its position in shares of 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 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 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.