Lipocine (NASDAQ:LPCN) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Shares of Lipocine Inc. (NASDAQ:LPCN) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $2.34 and traded as low as $1.48. Lipocine shares last traded at $1.56, with a volume of 404,565 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LPCN shares. Weiss Ratings cut shares of Lipocine from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 9th. Wall Street Zen raised shares of Lipocine from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lipocine in a research note on Tuesday, September 22nd. Finally, HC Wainwright reiterated a “neutral” rating and issued a $4.00 price objective on shares of Lipocine in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.00.

Lipocine Stock Down 7.1%

The firm has a market cap of $12.85 million, a P/E ratio of -0.87 and a beta of 0.40. The firm’s 50-day simple moving average is $2.11 and its 200 day simple moving average is $2.34.

Lipocine (NASDAQ:LPCN) last released its earnings results on Tuesday, August 4th. The specialty pharmaceutical company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.08. Lipocine had a negative net margin of 755.39% and a negative return on equity of 64.75%. The firm had revenue of $0.19 million during the quarter, compared to the consensus estimate of $0.21 million. As a group, analysts forecast that Lipocine Inc. will post -1.54 earnings per share for the current year.

Insider Buying and Selling

In other news, Director John Higuchi acquired 15,970 shares of Lipocine stock in a transaction on Wednesday, September 30th. The stock was acquired at an average cost of $2.23 per share, with a total value of $35,613.10. Following the completion of the acquisition, the director owned 241,365 shares in the company, valued at approximately $538,243.95. This trade represents a 7.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 37,568 shares of company stock valued at $82,174 in the last quarter. 4.69% of the stock is currently owned by corporate insiders.

Institutional Trading of Lipocine

Several hedge funds have recently made changes to their positions in the company. Eversept Partners LP bought a new position in shares of Lipocine during the 1st quarter worth $2,357,000. AIGH Capital Management LLC bought a new stake in Lipocine in the 1st quarter valued at about $1,598,000. Stempoint Capital LP bought a new stake in Lipocine in the 1st quarter valued at about $1,282,000. Seven Fleet Capital Management LP bought a new stake in Lipocine in the 1st quarter valued at about $998,000. Finally, Exome Asset Management LLC purchased a new stake in Lipocine during the first quarter valued at about $486,000. 9.11% of the stock is currently owned by institutional investors.

About Lipocine

Lipocine Inc is a clinical-stage biopharmaceutical company focused on developing oral therapies for conditions with significant unmet medical needs. The company uses its proprietary Lip’ral drug-delivery technology to improve the absorption and administration of poorly bioavailable compounds, with the goal of offering alternatives to injectable or otherwise inconvenient treatments.

Lipocine’s development programs have included oral hormone-replacement therapies, treatments for central nervous system disorders, and therapies for metabolic and liver-related conditions.