Equities researchers at HC Wainwright began coverage on shares of Lipocine Inc. (NASDAQ:LPCN) in a note issued to investors on Monday. The brokerage set a “buy” rating and a $25.00 price target on the specialty pharmaceutical company’s stock.
Separately, Canaccord Genuity restated a “buy” rating and issued a $15.00 target price (up previously from $6.00) on shares of Lipocine in a report on Tuesday, October 11th.
Lipocine (NASDAQ:LPCN) traded down 1.58% on Monday, reaching $3.74. 679,797 shares of the company’s stock were exchanged. The company’s market capitalization is $68.28 million. Lipocine has a 1-year low of $2.51 and a 1-year high of $14.80. The firm has a 50-day moving average price of $3.94 and a 200-day moving average price of $6.34.
Lipocine (NASDAQ:LPCN) last issued its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.05. Equities research analysts expect that Lipocine will post ($1.31) earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System bought a new position in shares of Lipocine during the second quarter valued at about $106,000. BlackRock Investment Management LLC boosted its stake in shares of Lipocine by 2,370.7% in the second quarter. BlackRock Investment Management LLC now owns 62,707 shares of the specialty pharmaceutical company’s stock worth $191,000 after buying an additional 60,169 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Lipocine during the first quarter worth $385,000. DRW Securities LLC acquired a new stake in shares of Lipocine during the second quarter worth $443,000. Finally, State Street Corp boosted its stake in shares of Lipocine by 1,408.9% in the second quarter. State Street Corp now owns 200,679 shares of the specialty pharmaceutical company’s stock worth $609,000 after buying an additional 187,379 shares in the last quarter. Institutional investors and hedge funds own 47.22% of the company’s stock.
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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