Lipocine Inc. (LPCN) Shares Down 2.2%
Lipocine Inc. (NASDAQ:LPCN) shares fell 2.2% during mid-day trading on Thursday . The company traded as low as $3.53 and last traded at $3.55, with a volume of 53,804 shares trading hands. The stock had previously closed at $3.63.
Separately, Canaccord Genuity restated a “buy” rating and issued a $6.00 target price on shares of Lipocine in a report on Wednesday, August 10th.
The stock’s market cap is $64.45 million. The stock’s 50-day moving average price is $3.65 and its 200-day moving average price is $7.84.
Lipocine (NASDAQ:LPCN) last issued its quarterly earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.05. Equities research analysts predict that Lipocine Inc. will post ($1.31) earnings per share for the current year.
An institutional investor recently raised its position in Lipocine stock. Dimensional Fund Advisors LP increased its stake in shares of Lipocine Inc. (NASDAQ:LPCN) by 73.0% during the fourth quarter, according to its most recent disclosure with the SEC. 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 approximately 1.49% of Lipocine worth $3,508,000 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.
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