Lipocine (NASDAQ:LPCN) was downgraded by stock analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research report issued on Thursday, The Fly reports.
Separately, HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Lipocine in a research report on Friday, December 8th.
Shares of Lipocine (NASDAQ LPCN) opened at $3.46 on Thursday. Lipocine has a 52 week low of $2.90 and a 52 week high of $5.33. The stock has a market capitalization of $73.34, a P/E ratio of -3.60 and a beta of 0.11.
A number of hedge funds have recently made changes to their positions in the business. Federated Investors Inc. PA lifted its position in 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 purchasing an additional 7,429 shares during the last quarter. Ameriprise Financial Inc. lifted its position in 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 purchasing an additional 24,000 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in Lipocine in the second quarter valued at approximately $300,000. P.A.W. Capital Corp bought a new stake in Lipocine in the third quarter valued at approximately $397,000. Finally, Vanguard Group Inc. lifted its position 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 purchasing an additional 155,110 shares during the last quarter. Hedge funds and other institutional investors own 22.06% of the company’s stock.
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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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