Alliance Global Partners Begins Coverage on Lipocine (NASDAQ:LPCN)

Stock analysts at Alliance Global Partners assumed coverage on shares of Lipocine (NASDAQ:LPCN) in a note issued to investors on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $10.00 price target on the specialty pharmaceutical company’s stock. Alliance Global Partners’ price objective indicates a potential upside of 111.86% from the company’s previous close.

Separately, StockNews.com upgraded shares of Lipocine from a “hold” rating to a “buy” rating in a report on Friday.

Lipocine Price Performance

LPCN traded up $0.18 during trading on Tuesday, reaching $4.72. 15,519 shares of the company’s stock were exchanged, compared to its average volume of 50,876. The stock has a market capitalization of $25.24 million, a P/E ratio of -2.82 and a beta of 1.21. The company’s fifty day simple moving average is $4.53 and its 200-day simple moving average is $5.56. Lipocine has a 1 year low of $2.31 and a 1 year high of $11.79.

Lipocine (NASDAQ:LPCN) last released its earnings results on Thursday, August 8th. The specialty pharmaceutical company reported ($0.56) earnings per share for the quarter. The firm had revenue of $0.09 million during the quarter. Equities analysts forecast that Lipocine will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Lipocine

An institutional investor recently raised its position in Lipocine stock. Renaissance Technologies LLC increased its holdings in Lipocine Inc. (NASDAQ:LPCN) by 21.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,697 shares of the specialty pharmaceutical company’s stock after acquiring an additional 4,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.48% of Lipocine worth $212,000 at the end of the most recent quarter. 9.11% of the stock is owned by institutional investors and hedge funds.

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.