StockNews.com Initiates Coverage on Lipocine (NASDAQ:LPCN)

Posted by on Jun 8th, 2023

Equities research analysts at StockNews.com initiated coverage on shares of Lipocine (NASDAQ:LPCN – Get Rating) in a report issued on Thursday. The firm set a “buy” rating on the specialty pharmaceutical company’s stock.

Lipocine Stock Down 3.1 %

Shares of NASDAQ LPCN opened at $4.45 on Thursday. Lipocine has a 12 month low of $3.30 and a 12 month high of $16.15. The company has a market cap of $23.14 million, a P/E ratio of -1.87 and a beta of 0.95. The business’s 50 day moving average is $4.75 and its two-hundred day moving average is $6.64.

Lipocine (NASDAQ:LPCN – Get Rating) last issued its quarterly earnings results on Friday, March 10th. The specialty pharmaceutical company reported ($0.51) earnings per share for the quarter. Sell-side analysts expect that Lipocine will post -2.42 earnings per share for the current fiscal year.

Insider Activity at Lipocine

In other news, CEO Mahesh V. Patel acquired 8,823 shares of Lipocine stock in a transaction on Friday, March 24th. The stock was bought at an average price of $5.44 per share, for a total transaction of $47,997.12. Following the transaction, the chief executive officer now owns 98,711 shares of the company’s stock, valued at $536,987.84. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Mahesh V. Patel bought 8,823 shares of the business’s stock in a transaction that occurred on Friday, March 24th. The stock was acquired at an average cost of $5.44 per share, for a total transaction of $47,997.12. Following the completion of the purchase, the chief executive officer now owns 98,711 shares of the company’s stock, valued at approximately $536,987.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mahesh V. Patel bought 8,706 shares of Lipocine stock in a transaction that occurred on Thursday, May 25th. The stock was purchased at an average cost of $5.03 per share, with a total value of $43,791.18. Following the completion of the transaction, the chief executive officer now owns 107,418 shares of the company’s stock, valued at $540,312.54. The disclosure for this purchase can be found here. Insiders have bought 20,705 shares of company stock worth $109,646 over the last three months. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LPCN. BlackRock Inc. grew its stake in shares of Lipocine by 0.4% in the 1st quarter. BlackRock Inc. now owns 1,467,420 shares of the specialty pharmaceutical company’s stock valued at $467,000 after purchasing an additional 6,348 shares during the period. State Street Corp raised its stake in Lipocine by 7.5% during the first quarter. State Street Corp now owns 327,405 shares of the specialty pharmaceutical company’s stock worth $449,000 after acquiring an additional 22,788 shares in the last quarter. Millennium Management LLC bought a new position in shares of Lipocine during the second quarter valued at $160,000. Renaissance Technologies LLC boosted its stake in shares of Lipocine by 146.2% in the 3rd quarter. Renaissance Technologies LLC now owns 199,400 shares of the specialty pharmaceutical company’s stock valued at $90,000 after purchasing an additional 118,394 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Lipocine in the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 12.18% of the company’s stock.

Lipocine Company Profile

(Get Rating)

Lipocine, Inc is a clinical-stage biopharmaceutical company, which engages in the research and development of the delivery of drugs using proprietary delivery technology. It offers TLANDO, an oral testosterone replacement therapy. The company was founded on October 13, 2011 and is headquartered in Salt Lake City, UT.

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