Lipocine (NASDAQ:LPCN) Downgraded by StockNews.com to “Hold”

Lipocine (NASDAQ:LPCN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Separately, Alliance Global Partners began coverage on Lipocine in a report on Tuesday, September 24th. They issued a “buy” rating and a $10.00 price target on the stock.

Lipocine Price Performance

Shares of LPCN stock traded down $0.47 during trading hours on Thursday, reaching $5.59. 64,656 shares of the company traded hands, compared to its average volume of 47,214. Lipocine has a 12-month low of $2.35 and a 12-month high of $11.79. The company has a market cap of $29.91 million, a P/E ratio of -3.52 and a beta of 1.18. The firm has a 50-day moving average price of $4.85 and a 200 day moving average price of $5.62.

Lipocine (NASDAQ:LPCN) last posted its quarterly earnings results on Thursday, August 8th. The specialty pharmaceutical company reported ($0.56) EPS for the quarter. The company had revenue of $0.09 million during the quarter. Sell-side analysts predict that Lipocine will post -0.92 EPS for the current year.

Institutional Trading of Lipocine

A hedge fund recently raised its stake in Lipocine stock. Renaissance Technologies LLC grew its position in Lipocine Inc. (NASDAQ:LPCN) by 21.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 0.48% of Lipocine worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 9.11% of the stock is owned by institutional investors.

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.