Lipocine (NASDAQ:LPCN) Downgraded by StockNews.com to “Hold”

Lipocine (NASDAQ:LPCN) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Separately, Alliance Global Partners initiated coverage on Lipocine in a research report on Tuesday, September 24th. They set a “buy” rating and a $10.00 target price on the stock.

Lipocine Trading Down 7.8 %

Shares of NASDAQ LPCN traded down $0.47 during trading hours on Thursday, hitting $5.59. 64,656 shares of the company traded hands, compared to its average volume of 47,214. The stock has a market capitalization of $29.91 million, a price-to-earnings ratio of -3.52 and a beta of 1.18. The company’s 50 day moving average price is $4.85 and its 200 day moving average price is $5.62. Lipocine has a 12 month low of $2.35 and a 12 month high of $11.79.

Lipocine (NASDAQ:LPCN) last released its earnings results on Thursday, August 8th. The specialty pharmaceutical company reported ($0.56) earnings per share for the quarter. The firm had revenue of $0.09 million during the quarter. Equities analysts anticipate that Lipocine will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Lipocine

A hedge fund recently raised its stake in Lipocine stock. Renaissance Technologies LLC grew its position in Lipocine Inc. (NASDAQ:LPCN) by 21.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 0.48% of Lipocine worth $212,000 at the end of the most recent reporting period. 9.11% of the stock is owned by institutional investors and hedge funds.

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.