Lipocine Inc. (LPCN) Sees Large Volume Increase
Shares of Lipocine Inc. (NASDAQ:LPCN) saw unusually-strong trading volume on Friday . Approximately 343,506 shares traded hands during trading, an increase of 45% from the previous session’s volume of 236,721 shares.The stock last traded at $4.36 and had previously closed at $4.23.
Separately, Canaccord Genuity reiterated a “buy” rating and set a $6.00 price target (down from $15.00) on shares of Lipocine in a research report on Saturday, July 2nd.
The stock has a 50-day moving average of $3.89 and a 200 day moving average of $8.19. The stock’s market cap is $81.80 million.
Lipocine (NASDAQ:LPCN) last announced its quarterly earnings data on Tuesday, August 9th. The specialty pharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.05. On average, equities analysts forecast that Lipocine Inc. will post ($1.31) EPS for the current fiscal year.
A hedge fund recently raised its stake in Lipocine stock. Dimensional Fund Advisors LP increased its position in shares of Lipocine Inc. (NASDAQ:LPCN) by 73.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 271,272 shares of the specialty pharmaceutical company’s stock after buying an additional 114,448 shares during the period. Dimensional Fund Advisors LP owned about 1.49% of Lipocine worth $3,508,000 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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