Lipocine Inc (NASDAQ:LPCN)’s share price traded down 8.5% during mid-day trading on Monday . The company traded as low as $2.90 and last traded at $3.03. 1,875,900 shares changed hands during trading, an increase of 64% from the average session volume of 1,144,550 shares. The stock had previously closed at $3.31.
A number of equities analysts have issued reports on the stock. Canaccord Genuity restated a “buy” rating and set a $11.00 target price on shares of Lipocine in a research report on Tuesday. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Lipocine in a research report on Friday, December 8th.
The firm has a market capitalization of $69.10, a PE ratio of -3.60 and a beta of 0.11.
Several large investors have recently bought and sold shares of the company. Federated Investors Inc. PA raised its position in shares of Lipocine by 9.2% in the second 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 last quarter. Ameriprise Financial Inc. raised its position in shares of Lipocine by 18.2% in the second 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 last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Lipocine in the second quarter valued at approximately $300,000. P.A.W. Capital Corp acquired a new position in shares of Lipocine in the third quarter valued at approximately $397,000. Finally, Vanguard Group Inc. raised its position in shares of 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. 22.06% of the stock is owned by institutional investors and hedge funds.
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Lipocine Company Profile
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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