The Vanguard Group, Inc. recently announced the acquisition of new stake in Lipocine Inc. (NASDAQ:LPCN). The institutional investor has increased its shareholding in the Healthcare company by 4.04% to 1.1 million shares with purchase of 42800.0 shares. This fresh investment now brings its stake to 2.30% valued currently at $1.7 million. In addition, Renaissance Technologies LLC raised its holdings by 40986.0 to 0.32 million shares. And Mercer Global Advisors, Inc. has lifted its position by 126.02% or 0.15 million shares – to 0.27 million shares.
With over 11.75 million Lipocine Inc. (LPCN) shares trading Friday and a closing price of $1.65 on the day, the dollar volume was approximately $19.39 million. The shares have shown a negative weekly performance of -14.95% and its price on 08/28/20 lost nearly 0.00%. Currently, there are 65.69M common shares owned by the public and among those 63.81M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for LPCN have a consensus price objective of $3.00. The analysts have set the share’s price value over the next 12 months at a high of $3.00 and a low of $3.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Lipocine Inc. stock is 2.50 for the next 12 months. But an upside of 45.0% will see the stock hit the forecast high price target while mean target price for the stock is $3.00.
Insiders at the company have transacted a total of 14 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 12 of these insider trades were purchases, accounting for 562,500 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 60,750 shares.
The top 3 mutual fund holders in Lipocine Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Vifag 2002, SICAV. Vanguard Total Stock Market Index owns 0.62 million shares of the company’s stock, all valued at over $0.95 million. Vifag 2002, SICAV bought 0.2 million shares to bring its total holdings to over 0.2 million shares at a value of $0.31 million. Vifag 2002, SICAV now owns shares totaling to 0.42% of the shares outstanding.
Shares of Lipocine Inc. (NASDAQ: LPCN) opened at $1.66, up $0.01 from a prior closing price of $1.65. However, the script later closed the day at $1.65, down 0.00%. The company’s stock has a 5-day price change of -14.95% and 80.41% over the past three months. LPCN shares are trading 328.68% year to date (YTD), with the 12-month market performance down to -40.00% lower. It has a 12-month low price of $0.30 and touched a high of $3.45 over the same period. Currently, 11.75 million shares have been traded, compared to an average intraday trading volume of 3.67 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.89%, 6.61%, and 108.72% respectively.
Institutional ownership of Lipocine Inc. (NASDAQ: LPCN) shares accounts for 6.60% of the company’s 65.69M shares outstanding. Mutual fund holders own 3.74%, while other institutional holders and individual stakeholders account for 5.69% and 3.30% respectively.
It has a market capitalization of $108.40M and a beta (3y monthly) value of 0.60. The earnings-per-share (ttm) stands at -$0.50. Price movements for the stock have been influenced by the stock’s volatility, which stands at 17.72% over the week and 11.36% over the month.
Analysts forecast that Lipocine Inc. (LPCN) will achieve an EPS of -$0.06 for the current quarter, -$0.06 for the next quarter and -$0.01 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of -$0.05. Comparatively, EPS for the current quarter was -$0.12 a year ago. Earnings per share for the fiscal year are expected to increase by 8.00%, and 97.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Lipocine Inc. (LPCN) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 1 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LPCN, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on January 12, 2018, with the firm’s price target at $10-$3. Canaccord Genuity coverage for the Lipocine Inc. (LPCN) stock in a research note released on January 11, 2018 offered a Hold rating with a price target of $2. H.C. Wainwright was of a view on December 08, 2017 that the stock is Buy, while H.C. Wainwright gave the stock Buy rating on October 07, 2016, issuing a price target of $25. ROTH Capital on their part issued Buy rating on July 22, 2015.