H.C. Wainwright Starts Lipocine Inc (LPCN) at Buy, PT $25
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H.C. Wainwright initiated coverage on Lipocine Inc (NASDAQ: LPCN) with a Buy rating and a price target of $25.
Analyst Corey Davis said, "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 twice-daily 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."
Shares of Lipocine Inc closed at $4.17 yesterday.
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