Lipocine price target lowered to $6 from $11 at Alliance Global

Alliance Global lowered the firm’s price target on Lipocine (LPCN) to $6 from $11 and keeps a Buy rating on the shares, noting that the company announced on April 2 that oral brexanolone for the treatment of postpartum depression did not show a statistically significant reduction from baseline in depression scale when compared to placebo at 60 hours, missing the study’s primary endpoint. The firm’s initial analysis “suggests that this event may be more of a case of a failed trial than a failed compound” and it believes that the company may have a path forward to “redo this trial in a reasonable time period,” the analyst tells investors.