Lipocine Inc. to Post FY2023 Earnings of ($3.08) Per Share, Cantor Fitzgerald Forecasts (NASDAQ:LPCN)

Lipocine Inc. (NASDAQ:LPCN – Get Rating) – Equities researchers at Cantor Fitzgerald dropped their FY2023 earnings per share (EPS) estimates for shares of Lipocine in a research report issued to clients and investors on Wednesday, May 17th. Cantor Fitzgerald analyst J. Kim now forecasts that the specialty pharmaceutical company will post earnings of ($3.08) per share for the year, down from their previous forecast of ($3.05). The consensus estimate for Lipocine’s current full-year earnings is ($2.47) per share.

Separately, StockNews.com initiated coverage on shares of Lipocine in a research note on Monday, May 15th. They issued a “buy” rating on the stock.

Lipocine Trading Up 2.7 %

Shares of NASDAQ:LPCN opened at $3.77 on Monday. The firm has a 50 day moving average of $4.98 and a 200-day moving average of $6.84. Lipocine has a 12 month low of $3.30 and a 12 month high of $16.15. The stock has a market capitalization of $19.60 million, a PE ratio of -1.58 and a beta of 0.93.

Lipocine (NASDAQ:LPCN – Get Rating) last issued its quarterly earnings results on Friday, March 10th. The specialty pharmaceutical company reported ($0.51) EPS for the quarter.

Insider Transactions at Lipocine

In related news, CEO Mahesh V. Patel bought 8,823 shares of the company’s stock in a transaction dated Friday, March 24th. The stock was purchased at an average price of $5.44 per share, with a total value of $47,997.12. Following the completion of the acquisition, the chief executive officer now owns 98,711 shares of the company’s stock, valued at $536,987.84. The purchase was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders acquired 11,999 shares of company stock valued at $65,854. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Lipocine

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of Lipocine by 0.4% during the 1st quarter. BlackRock Inc. now owns 1,467,420 shares of the specialty pharmaceutical company’s stock valued at $467,000 after acquiring an additional 6,348 shares in the last quarter. Wealthspan Partners LLC acquired a new stake in shares of Lipocine during the fourth quarter valued at about $29,000. Bailard Inc. bought a new stake in shares of Lipocine during the fourth quarter worth about $32,000. Renaissance Technologies LLC increased its stake in shares of Lipocine by 146.2% in the third quarter. Renaissance Technologies LLC now owns 199,400 shares of the specialty pharmaceutical company’s stock valued at $90,000 after buying an additional 118,394 shares during the period. Finally, Virtu Financial LLC bought a new position in Lipocine in the 3rd quarter valued at approximately $42,000. Institutional investors own 12.18% of the company’s stock.

About Lipocine

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Lipocine, Inc is a clinical-stage biopharmaceutical company, which engages in the research and development of the delivery of drugs using proprietary delivery technology. It offers TLANDO, an oral testosterone replacement therapy. The company was founded on October 13, 2011 and is headquartered in Salt Lake City, UT.