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

StockNews.com began coverage on shares of Lipocine (NASDAQ:LPCN) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the specialty pharmaceutical company’s stock.

Lipocine Stock Performance

Shares of NASDAQ LPCN opened at $5.21 on Tuesday. The firm’s 50 day moving average price is $4.02 and its 200-day moving average price is $3.25. The company has a market cap of $27.72 million, a PE ratio of -1.71 and a beta of 1.02. Lipocine has a 52-week low of $2.31 and a 52-week high of $5.95.

Lipocine (NASDAQ:LPCN) last issued its earnings results on Thursday, March 7th. The specialty pharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.11. The firm had revenue of $0.22 million during the quarter. On average, analysts forecast that Lipocine will post -1.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Lipocine by 0.4% in the first quarter. BlackRock Inc. now owns 1,467,420 shares of the specialty pharmaceutical company’s stock worth $467,000 after buying an additional 6,348 shares in the last quarter. State Street Corp lifted its position in Lipocine by 7.5% during the first quarter. State Street Corp now owns 327,405 shares of the specialty pharmaceutical company’s stock valued at $449,000 after purchasing an additional 22,788 shares during the period. Millennium Management LLC bought a new position in Lipocine during the second quarter valued at approximately $160,000. Goldman Sachs Group Inc. lifted its position in Lipocine by 524.6% during the first quarter. Goldman Sachs Group Inc. now owns 88,615 shares of the specialty pharmaceutical company’s stock valued at $121,000 after purchasing an additional 74,428 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Lipocine by 146.2% during the third 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 during the period. Institutional investors own 9.11% of the company’s stock.

About Lipocine

Lipocine Inc, a clinical-stage biopharmaceutical company, engages in the research and development for the delivery of drugs for the treatment of central nervous system (CNS) disorders. Its lead product candidate is TLANDO, an oral testosterone replacement therapy (TRT) comprising testosterone undecanoate.