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 report released on Friday.

Lipocine Stock Performance

Shares of NASDAQ:LPCN opened at $3.59 on Friday. Lipocine has a 52 week low of $2.31 and a 52 week high of $11.79. The company has a market cap of $19.20 million, a PE ratio of -2.10 and a beta of 1.12. The firm has a 50 day simple moving average of $5.78 and a 200 day simple moving average of $5.50.

Institutional Trading of Lipocine

A hedge fund recently raised its stake in Lipocine stock. Renaissance Technologies LLC grew its position in shares of Lipocine Inc. (NASDAQ:LPCN) by 21.8% in the 2nd 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 buying an additional 4,600 shares during the quarter. Renaissance Technologies LLC owned approximately 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 hedge funds and other institutional investors.

Lipocine Company Profile

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.