Lipocine Inc. (LPCN) Shares Down 7.9%
Shares of Lipocine Inc. (NASDAQ:LPCN) were down 7.9% on Wednesday . The company traded as low as $3.96 and last traded at $3.98, with a volume of 365,087 shares trading hands. The stock had previously closed at $4.32.
Separately, Canaccord Genuity reiterated a “buy” rating and issued a $6.00 price target (down from $15.00) on shares of Lipocine in a research report on Saturday, July 2nd.
The firm’s market cap is $77.05 million. The company has a 50 day moving average of $4.06 and a 200 day moving average of $8.25.
Lipocine (NASDAQ:LPCN) last issued its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported ($0.32) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.05. On average, equities analysts expect that Lipocine Inc. will post ($1.33) EPS for the current fiscal year.
An institutional investor recently raised its position in Lipocine stock. Russell Frank Co raised its stake in Lipocine Inc. (NASDAQ:LPCN) by 7.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 at the end of the most recent quarter.
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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