Lipocine Inc. (LPCN) Trading 8.9% Higher
Lipocine Inc. (NASDAQ:LPCN)’s share price traded up 8.9% during mid-day trading on Tuesday . The stock traded as high as $4.39 and last traded at $4.02, with a volume of 310,285 shares trading hands. The stock had previously closed at $3.69.
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 research note on Saturday, July 2nd.
The stock’s 50-day moving average is $4.13 and its 200-day moving average is $8.28. The firm’s market capitalization is $78.87 million.
An institutional investor recently raised its position in Lipocine stock. Russell Frank Co raised its stake in shares of Lipocine Inc. (NASDAQ:LPCN) by 7.9% during the fourth quarter, according to its most recent 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 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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