Lipocine (NASDAQ:LPCN) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Lipocine Inc. (NASDAQ:LPCNGet Free Report)’s share price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $3.27 and traded as high as $3.89. Lipocine shares last traded at $3.58, with a volume of 27,039 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen initiated coverage on shares of Lipocine in a research note on Saturday, May 17th. They issued a “hold” rating on the stock.

View Our Latest Stock Report on LPCN

Lipocine Stock Performance

The firm has a market cap of $19.15 million, a price-to-earnings ratio of -4.71 and a beta of 1.52. The business’s 50 day moving average price is $3.27 and its 200-day moving average price is $3.97.

Lipocine (NASDAQ:LPCNGet Free Report) last issued its earnings results on Thursday, May 8th. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.35). The company had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.35 million.

Institutional Investors Weigh In On Lipocine

A hedge fund recently raised its stake in Lipocine stock. Geode Capital Management LLC increased its holdings in shares of Lipocine Inc. (NASDAQ:LPCNFree Report) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,464 shares of the specialty pharmaceutical company’s stock after acquiring an additional 3,248 shares during the quarter. Geode Capital Management LLC owned approximately 1.07% of Lipocine worth $280,000 at the end of the most recent quarter. Institutional investors own 9.11% of the company’s stock.

About Lipocine

(Get Free Report)

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.

Further Reading

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