Shares of Lipocine Inc (NASDAQ:LPCN) traded down 11.2% during mid-day trading on Tuesday . The stock traded as low as $1.55 and last traded at $1.58. 595,964 shares traded hands during trading, an increase of 3% from the average session volume of 578,200 shares. The stock had previously closed at $1.78.
Separately, HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Lipocine in a research note on Wednesday, May 15th.
The company has a market cap of $43.25 million, a price-to-earnings ratio of -2.87 and a beta of 0.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 5.37 and a quick ratio of 5.37.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Lipocine by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 747,984 shares of the specialty pharmaceutical company’s stock valued at $1,032,000 after purchasing an additional 35,000 shares during the period. Vanguard Group Inc boosted its stake in Lipocine by 4.9% during the 3rd quarter. Vanguard Group Inc now owns 747,984 shares of the specialty pharmaceutical company’s stock valued at $1,032,000 after purchasing an additional 35,000 shares during the period. Renaissance Technologies LLC boosted its stake in Lipocine by 101.7% during the 1st quarter. Renaissance Technologies LLC now owns 406,700 shares of the specialty pharmaceutical company’s stock valued at $939,000 after purchasing an additional 205,100 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Lipocine during the 1st quarter valued at approximately $490,000. Finally, Spark Investment Management LLC bought a new stake in Lipocine during the 1st quarter valued at approximately $118,000. Hedge funds and other institutional investors own 10.50% of the company’s stock.
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About Lipocine (NASDAQ:LPCN)
Lipocine Inc, a specialty pharmaceutical company, focuses on 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 poorly bioavailable drugs. The company has a portfolio of product candidates designed to produce pharmacokinetic characteristics and facilitate lower dosing requirements, bypass first-pass metabolism in certain cases, reduce side effects, and eliminate gastrointestinal interactions that limit bioavailability.
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