Lipocine Inc. (NASDAQ:LPCN) Sees Significant Drop in Short Interest

Lipocine Inc. (NASDAQ:LPCN) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 48,500 shares, a drop of 21.0% from the December 15th total of 61,400 shares. Based on an average daily volume of 29,800 shares, the short-interest ratio is currently 1.6 days. Currently, 0.9% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. StockNews.com initiated coverage on Lipocine in a research note on Friday. They set a “hold” rating on the stock. Alliance Global Partners assumed coverage on Lipocine in a report on Tuesday, September 24th. They set a “buy” rating and a $10.00 target price for the company.

Lipocine Stock Down 1.8 %

Lipocine stock traded down $0.08 during mid-day trading on Friday, reaching $4.37. 42,027 shares of the company’s stock were exchanged, compared to its average volume of 29,612. The company has a fifty day moving average of $4.89 and a 200-day moving average of $5.04. The company has a market cap of $23.38 million, a P/E ratio of -5.75 and a beta of 1.23. Lipocine has a twelve month low of $3.20 and a twelve month high of $11.79.

Lipocine (NASDAQ:LPCN) last released its earnings results on Thursday, November 7th. The specialty pharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter. Equities research analysts expect that Lipocine will post -0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lipocine

An institutional investor recently raised its position in Lipocine stock. Renaissance Technologies LLC boosted its position in Lipocine Inc. (NASDAQ:LPCN) by 21.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,697 shares of the specialty pharmaceutical company’s stock after acquiring 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 quarter. Institutional investors own 9.11% of the company’s stock.

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.