Canaccord Genuity Reaffirms Their Hold Rating on Lipocine (LPCN)


Canaccord Genuity analyst Dewey Steadman maintained a Hold rating on Lipocine (NASDAQ: LPCN) today and set a price target of $1.50. The company’s shares opened today at $1.55, close to its 52-week low of $1.03.

Steadman said:

“We expect the company could be in a position to refile in 1H/19, leading to a potential approval/launch in late/19 or early/20.”

According to TipRanks.com, Steadman is a 3-star analyst with an average return of 3.6% and a 40.2% success rate. Steadman covers the Healthcare sector, focusing on stocks such as ANI Pharmaceuticals Inc, Pacira Pharmaceuticals, and Perrigo Company plc.

The word on The Street in general, suggests a Hold analyst consensus rating for Lipocine with a $1.50 average price target.

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Based on Lipocine’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.26 million. In comparison, last year the company had a GAAP net loss of $6.09 million.

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Lipocine, Inc. is a pharmaceutical company, which engages in the research and development of treatment for use in men’s and women’s health through proprietary drug delivery technologies. It focuses on the oral testosterone replacement therapy and preterm birth prevention. The company was founded on July 24, 2013 and is headquartered in Salt Lake City, UT.

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