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

Lipocine Inc. (NASDAQ:LPCN) was the recipient of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 60,100 shares, a decline of 20.1% from the October 31st total of 75,200 shares. Based on an average daily volume of 30,700 shares, the short-interest ratio is currently 2.0 days. Currently, 1.2% of the shares of the company are sold short.

Lipocine Stock Up 2.0 %

Lipocine stock opened at $4.54 on Monday. The business has a 50-day simple moving average of $5.08 and a two-hundred day simple moving average of $5.62. Lipocine has a 52-week low of $2.38 and a 52-week high of $11.79. The company has a market cap of $24.29 million, a P/E ratio of -5.97 and a beta of 1.18.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Alliance Global Partners started coverage on shares of Lipocine in a report on Tuesday, September 24th. They issued a “buy” rating and a $10.00 target price on the stock. StockNews.com initiated coverage on Lipocine in a research note on Saturday. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On Lipocine

A hedge fund recently raised its stake in Lipocine stock. Renaissance Technologies LLC grew its stake in Lipocine Inc. (NASDAQ:LPCN) by 21.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 approximately 0.48% of Lipocine worth $212,000 as of its most recent SEC filing. Institutional investors own 9.11% of the company’s stock.

Lipocine Company Profile

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.