Canaccord Genuity set a $15.00 price objective on Lipocine Inc. (NASDAQ:LPCN) in a research note issued to investors on Tuesday. The firm currently has a a buy rating on the specialty pharmaceutical company’s stock.
Separately, HC Wainwright began coverage on Lipocine in a research report on Friday, October 7th. They set a buy rating and a $25.00 price target for the company.
Shares of Lipocine (NASDAQ:LPCN) opened at 5.42 on Tuesday. The company’s market capitalization is $98.96 million. Lipocine has a 12 month low of $2.51 and a 12 month high of $14.80. The firm’s 50-day moving average is $3.90 and its 200 day moving average is $6.41.
Lipocine (NASDAQ:LPCN) last announced 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. Equities analysts expect that Lipocine will post ($1.31) EPS for the current year.
A number of institutional investors have recently bought and sold shares of LPCN. Dimensional Fund Advisors LP raised its position in Lipocine by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 296,302 shares of the specialty pharmaceutical company’s stock valued at $901,000 after buying an additional 4,464 shares during the last quarter. Royce & Associates LP increased its position in Lipocine by 2.3% in the first quarter. Royce & Associates LP now owns 839,357 shares of the specialty pharmaceutical company’s stock worth $8,519,000 after buying an additional 19,134 shares during the last quarter. California State Teachers Retirement System acquired a new position in Lipocine during the second quarter worth approximately $106,000. Landscape Capital Management L.L.C. acquired a new position in Lipocine during the first quarter worth approximately $385,000. Finally, BlackRock Investment Management LLC increased its position in 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 during the last quarter. 47.23% of the stock is currently owned by hedge funds and other institutional investors.
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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