StockNews.com Begins Coverage on Lipocine (NASDAQ:LPCN)

StockNews.com started coverage on shares of Lipocine (NASDAQ:LPCN) in a report published on Tuesday morning. The brokerage issued a sell rating on the specialty pharmaceutical company’s stock.

Lipocine Trading Up 1.4 %

LPCN opened at $5.20 on Tuesday. Lipocine has a 1-year low of $2.31 and a 1-year high of $5.95. The company has a market cap of $27.66 million, a P/E ratio of -1.70 and a beta of 1.02. The company has a fifty day moving average price of $4.04 and a two-hundred day moving average price of $3.27.

Lipocine (NASDAQ:LPCN) last posted its quarterly earnings results on Thursday, March 7th. The specialty pharmaceutical company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.11. The company had revenue of $0.22 million during the quarter. On average, research analysts forecast that Lipocine will post -1.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Lipocine by 0.4% during the first quarter. BlackRock Inc. now owns 1,467,420 shares of the specialty pharmaceutical company’s stock worth $467,000 after purchasing an additional 6,348 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Lipocine by 146.2% during the third quarter. Renaissance Technologies LLC now owns 199,400 shares of the specialty pharmaceutical company’s stock worth $90,000 after purchasing an additional 118,394 shares during the last quarter. Millennium Management LLC purchased a new position in Lipocine during the second quarter worth about $160,000. Goldman Sachs Group Inc. boosted its stake in Lipocine by 524.6% in the first quarter. Goldman Sachs Group Inc. now owns 88,615 shares of the specialty pharmaceutical company’s stock valued at $121,000 after acquiring an additional 74,428 shares during the last quarter. Finally, State Street Corp boosted its stake in Lipocine by 7.5% in the first quarter. State Street Corp now owns 327,405 shares of the specialty pharmaceutical company’s stock valued at $449,000 after acquiring an additional 22,788 shares during the last quarter. 9.11% of the stock is currently owned by hedge funds and other 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.