The HC Wainwright Reiterates “Buy” Rating for Lipocine Inc. (LPCN)

The HC Wainwright Reiterates “Buy” Rating for Lipocine Inc. (LPCN)

Lipocine Inc. (NASDAQ:LPCN)‘s stock had its “buy” rating restated by HC Wainwright in a report issued on Wednesday.

A number of other analysts have also recently issued reports on LPCN. Roth Capital set a $30.00 price objective on shares of Lipocine and gave the stock a “buy” rating in a research note on Tuesday, December 6th. Canaccord Genuity set a $15.00 price objective on shares of Lipocine and gave the stock a “buy” rating in a research note on Tuesday, December 20th.

Shares of Lipocine (NASDAQ:LPCN) traded down 5.31% during trading on Wednesday, reaching $3.39. 111,810 shares of the company were exchanged. Lipocine has a 1-year low of $2.51 and a 1-year high of $12.66. The company’s market capitalization is $61.90 million. The stock’s 50 day moving average is $3.64 and its 200 day moving average is $3.68.

Several hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN purchased a new stake in shares of Lipocine during the third quarter worth about $122,000. California State Teachers Retirement System purchased a new stake in shares of Lipocine during the second quarter worth about $106,000. BlackRock Investment Management LLC boosted its stake in shares of 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 period. State Street Corp boosted its stake in shares of Lipocine by 1,408.9% in the second quarter. State Street Corp now owns 200,679 shares of the specialty pharmaceutical company’s stock worth $609,000 after buying an additional 187,379 shares during the period. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Lipocine during the third quarter worth about $935,000. 45.09% of the stock is owned by hedge funds and other institutional investors.

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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