Canaccord Genuity Reiterates a Buy Rating on Lipocine

In a report released today, Dewey Steadman from Canaccord Genuity reiterated a Buy rating on Lipocine (NASDAQ: LPCN), with a price target of $15. The company’s shares opened today at $3.86, close to its 52-week low of $2.51.

Steadman wrote:

“We assume coverage of Lipocine with a BUY rating and $15 year-end 2017 price target. Lipocine is one of the leading companies developing oral testosterone replacement therapies to treat primary hypogonadism.”

Lipocine has an analyst consensus of Moderate Buy.

Based on Lipocine’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $0 and GAAP net loss of $3.24 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $6.37 million.

Lipocine, Inc. is a pharmaceutical company that engages in the research and development for the delivery of drugs. It focuses on applying its oral drug delivery technology for the development of pharmaceutical products in the area of men’s and women’s health. The company was founded by Mahesh V. Patel and William I. Higuchi on July 24, 2013 and is headquartered in Salt Lake City, UT.