Lipocine (LPCN) Given “Hold” Rating at Canaccord Genuity

Lipocine (NASDAQ:LPCN)‘s stock had its “hold” rating restated by stock analysts at Canaccord Genuity in a research note issued on Tuesday. They presently have a $2.00 target price on the specialty pharmaceutical company’s stock, down from their previous target price of $11.00. Canaccord Genuity’s price objective would indicate a potential upside of 2.04% from the company’s previous close.

The analysts wrote, “We eagerly anticipate Wednesday’s meeting and believe that Tlando could ultimately be approvable with adequate safety data in hand.””

Separately, HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Lipocine in a report on Friday, December 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $18.50.

Shares of Lipocine (LPCN) traded down $1.50 during trading hours on Tuesday, hitting $1.96. The stock had a trading volume of 2,639,104 shares, compared to its average volume of 1,434,400. Lipocine has a 52-week low of $2.90 and a 52-week high of $5.33. The stock has a market cap of $42.82, a price-to-earnings ratio of -2.04 and a beta of 0.11.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Federated Investors Inc. PA boosted its stake in shares of Lipocine by 9.2% in the 2nd quarter. Federated Investors Inc. PA now owns 88,083 shares of the specialty pharmaceutical company’s stock valued at $354,000 after buying an additional 7,429 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Lipocine by 18.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 155,600 shares of the specialty pharmaceutical company’s stock valued at $626,000 after buying an additional 24,000 shares during the period. Goldman Sachs Group Inc. purchased a new stake in Lipocine during the second quarter worth approximately $300,000. P.A.W. Capital Corp purchased a new stake in Lipocine during the third quarter worth approximately $397,000. Finally, Vanguard Group Inc. lifted its stake in Lipocine by 39.7% in the second quarter. Vanguard Group Inc. now owns 546,027 shares of the specialty pharmaceutical company’s stock valued at $2,195,000 after buying an additional 155,110 shares during the last quarter. Institutional investors and hedge funds own 22.06% of the company’s stock.

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About Lipocine

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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