Lipocine (NASDAQ:LPCN) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

Lipocine Inc. (NASDAQ:LPCN) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.13 and traded as low as $2.65. Lipocine shares last traded at $2.69, with a volume of 40,809 shares.

Analyst Ratings Changes

Several research firms recently weighed in on LPCN. HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of Lipocine in a research report on Wednesday, August 20th. Alliance Global Partners raised Lipocine to a “strong-buy” rating in a research report on Monday, August 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lipocine in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

Lipocine Price Performance

The firm has a 50 day moving average of $2.95 and a 200-day moving average of $3.13. The stock has a market capitalization of $14.58 million, a P/E ratio of -3.09 and a beta of 1.29.

Lipocine (NASDAQ:LPCN) last posted its quarterly earnings results on Tuesday, August 5th. The specialty pharmaceutical company reported ($0.41) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.41). The business had revenue of $0.62 million for the quarter, compared to analyst estimates of $1.00 million.

About Lipocine

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.