Lipocine Inc. (NASDAQ:LPCN) shares were down 3.7% during trading on Wednesday . The company traded as low as $3.39 and last traded at $3.41, with a volume of 65,850 shares changing hands. The stock had previously closed at $3.54.

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

The stock’s 50 day moving average price is $3.69 and its 200-day moving average price is $7.64. The firm’s market capitalization is $64.27 million.

Lipocine (NASDAQ:LPCN) last released its quarterly earnings results 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, analysts expect that Lipocine Inc. will post ($1.31) earnings per share for the current fiscal year.

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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