Lipocine Inc (NASDAQ:LPCN)’s stock price was up 9.9% during mid-day trading on Monday . The company traded as high as $1.39 and last traded at $1.33. Approximately 2,925,568 shares were traded during mid-day trading, an increase of 23% from the average daily volume of 2,377,664 shares. The stock had previously closed at $1.21.
Separately, HC Wainwright raised their price target on Lipocine from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th.
The business has a 50 day simple moving average of $1.67 and a 200-day simple moving average of $1.01. The company has a current ratio of 5.54, a quick ratio of 5.54 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $95.24 million, a price-to-earnings ratio of -2.96 and a beta of 0.54.
Lipocine (NASDAQ:LPCN) last issued its earnings results on Thursday, August 6th. The specialty pharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.06). Research analysts predict that Lipocine Inc will post -0.35 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPCN. BlackRock Inc. lifted its position in Lipocine by 4.1% in the 1st quarter. BlackRock Inc. now owns 805,443 shares of the specialty pharmaceutical company’s stock valued at $386,000 after purchasing an additional 31,637 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Lipocine by 71.1% in the first quarter. Mercer Global Advisors Inc. ADV now owns 120,348 shares of the specialty pharmaceutical company’s stock valued at $58,000 after purchasing an additional 50,000 shares during the period. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Lipocine during the second quarter valued at approximately $26,000. Institutional investors own 6.55% of the company’s stock.
About Lipocine (NASDAQ:LPCN)
Lipocine Inc, a specialty pharmaceutical company, focuses on 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 poorly bioavailable drugs. The company has a portfolio of product candidates designed to produce pharmacokinetic characteristics and facilitate lower dosing requirements, bypass first-pass metabolism in certain cases, reduce side effects, and eliminate gastrointestinal interactions that limit bioavailability.
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