The analyst initiated coverage on the stock with a Buy rating and price target of $25, which implies an upside of 364% from current levels.
Davis commented, “Our Lipocine investment thesis hinges on the success of three late-stage orally-formulated steroid products to better compete with current products that are either injectable or topical. LPCN 1021 (brand name Tylando) is a twicedaily oral formulation of testosterone for hypogonadal men (low testosterone), that received a Complete Response Letter on June 29, 2016 and should have clarity as to the path forward this month. LPCN 1111 is a once-daily next generation prodrug of testosterone that announced successful Phase 2b on September 26. LPCN 1107 is an oral version of hydroxyprogesterone for pre-term birth that would compete directly with Makena and is ready to enter Phase 3.”
As usual, we recommend taking analyst notes with a grain of salt. According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Corey Davis has a yearly average return of -2% and a 38% success rate. Davis has a -50% average return when recommending LPCN, and is ranked #3509 out of 4190 analysts.
As of this writing, all the 3 analysts polled by TipRanks rate Lipocine stock a Buy. With a return potential of 215%, the stock’s consensus target price stands at $17.