Shares of Lipocine Inc. (NASDAQ:LPCN) saw strong trading volume on Monday . 175,991 shares traded hands during trading, a decline of 15% from the previous session’s volume of 205,909 shares.The stock last traded at $3.56 and had previously closed at $3.62.

Separately, Canaccord Genuity reissued a “buy” rating and set a $6.00 price target on shares of Lipocine in a research note on Wednesday, August 10th.

The stock’s market capitalization is $64.63 million. The company’s 50-day moving average price is $3.67 and its 200 day moving average price is $7.74.

Lipocine (NASDAQ:LPCN) last announced its quarterly earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported ($0.32) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.05. On average, equities research analysts anticipate that Lipocine Inc. will post ($1.31) EPS for the current year.

An institutional investor recently raised its position in Lipocine stock. Ameriprise Financial Inc. boosted its stake in Lipocine Inc. (NASDAQ:LPCN) by 3.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 213,676 shares of the specialty pharmaceutical company’s stock after buying an additional 6,909 shares during the period. Ameriprise Financial Inc. owned about 1.17% of Lipocine worth $2,763,000 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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