Lipocine Inc (LPCN)
NASDAQ:LPCN
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Lipocine
(NASDAQ:LPCN)
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Rating:48Neutral
Price Target:
$9.00
▲(208.22% Upside)
Action:ReiteratedDate:04/03/26
The score is held down primarily by weak financial performance (volatile results, sizable 2025 loss, and historically negative cash flow) and a major corporate setback (Phase 3 primary endpoint miss). Technicals provide partial support with an uptrend above key moving averages, but valuation remains constrained by ongoing losses and no dividend yield data.
Positive Factors
Oral lipid-based delivery platform
Lipocine’s core technology focuses on lipid-based oral formulations, a structural advantage for converting injectable or clinic-bound therapies into at-home oral options. This durable platform can enable broader patient access, simplify commercialization pathways, and create licensing upside across endocrinology and CNS indications.
Negative Factors
Phase 3 primary endpoint miss
Missing the pivotal primary endpoint creates a structural development and regulatory setback: it raises the probability of additional trials, narrows indication strategies, and materially reduces near-term odds of approval or attractive partnering. This elevates execution risk and extends timelines and capital needs.
Read all positive and negative factors
Positive Factors
Negative Factors
Oral lipid-based delivery platform
Lipocine’s core technology focuses on lipid-based oral formulations, a structural advantage for converting injectable or clinic-bound therapies into at-home oral options. This durable platform can enable broader patient access, simplify commercialization pathways, and create licensing upside across endocrinology and CNS indications.
Read all positive factors
Lipocine (LPCN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$16.06M
Dividend YieldN/A
Average Volume (3M)609.34K
Price to Earnings (P/E)―
Beta (1Y)0.40
Revenue Growth-44.31%
EPS Growth-34.17%
CountryUS
Employees16
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.42
Shares Outstanding7,299,687
10 Day Avg. Volume1,622,217
30 Day Avg. Volume609,340
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)3.02
Price to Sales (P/S)22.14
P/FCF Ratio-4.48
Enterprise Value/Market Cap0.42
Enterprise Value/Revenue3.43
Enterprise Value/Gross Profit-38.69
Enterprise Value/Ebitda-0.66
Forecast
1Y Price Target
$11.00Price Target Upside276.71% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-2.19
Revenue Forecast (FY)$400.00K
Lipocine Business Overview & Revenue Model
Company Description
Lipocine Inc., a clinical-stage biopharmaceutical company, focuses on the development of pharmaceutical products for the treatment of neuroendocrine and metabolic disorders. The company's primary development programs are based on oral delivery sol...
How the Company Makes Money
Lipocine’s business model is centered on advancing proprietary drug candidates through clinical development and then seeking to generate revenue primarily via (a) licensing or partnering its drug candidates and/or formulation technology to larger ...
Lipocine Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
14
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.98M | 11.20M | -2.85M | 500.00K | 16.14M |
| Gross Profit | -6.61M | 11.20M | -13.03M | -8.06M | 8.48M |
| EBITDA | -10.31M | -1.11M | -17.90M | -10.72M | -430.53K |
| Net Income | -9.63M | 8.35K | -16.35M | -10.76M | -634.40K |
Balance Sheet | |||||
| Total Assets | 17.01M | 22.51M | 23.00M | 37.54M | 52.48M |
| Cash, Cash Equivalents and Short-Term Investments | 14.93M | 21.63M | 22.04M | 32.53M | 44.62M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 2.31M |
| Total Liabilities | 2.53M | 1.51M | 2.63M | 1.91M | 6.91M |
| Stockholders Equity | 14.48M | 21.00M | 20.37M | 35.63M | 45.57M |
Cash Flow | |||||
| Free Cash Flow | -9.76M | -1.31M | -11.88M | -12.10M | -4.42M |
| Operating Cash Flow | -9.76M | -1.22M | -11.87M | -11.97M | -4.41M |
| Investing Cash Flow | 5.89M | 2.45M | 13.08M | 14.29M | -43.78M |
| Financing Cash Flow | 2.87M | 209.34K | 404.57K | -2.13M | 26.92M |
Lipocine Technical Analysis
Negative
2.92
Price Trends
7.66
Negative
6.75
Negative
4.88
Negative
Market Momentum
-1.61
Positive
26.91
Positive
4.41
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LPCN, the sentiment is Negative. The current price of 2.92 is below the 20-day moving average (MA) of 5.90, below the 50-day MA of 7.66, and below the 200-day MA of 4.88, indicating a bearish trend. The MACD of -1.61 indicates Positive momentum. The RSI at 26.91 is Positive, neither overbought nor oversold. The STOCH value of 4.41 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LPCN.
Lipocine Risk Analysis
Lipocine disclosed 61 risk factors in its most recent earnings report. Lipocine reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Lipocine Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $16.06M | -4.62 | -59.29% | ― | -44.31% | -34.17% | |
46 Neutral | $74.61M | -5.32 | -71.26% | ― | 185.71% | 79.03% | |
46 Neutral | $12.91M | -1.01 | -317.47% | ― | -100.00% | 58.50% | |
46 Neutral | $40.06M | -0.71 | -80.00% | ― | ― | 9.63% | |
43 Neutral | $4.38M | -1.58 | -79.47% | ― | -99.97% | 35.59% |
* Healthcare Sector Average
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Lipocine Corporate Events
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
Lipocine weighs path after LPCN 1154 Phase 3 miss
Negative
Apr 2, 2026
On April 2, 2026, Lipocine reported topline results from a Phase 3 placebo-controlled trial of LPCN 1154, an oral formulation of brexanolone for postpartum depression, in 90 patients. The study did not meet its primary endpoint, as LPCN 1154 faile...
Business Operations and StrategyRegulatory Filings and Compliance
Lipocine Updates Investor Presentation to Refine Market Messaging
Neutral
Apr 2, 2026
Lipocine has updated the corporate presentation it uses in meetings with investors, analysts and other stakeholders. The refreshed materials have been formally filed and are now available as part of the company’s investor communications reso...
Private Placements and FinancingRegulatory Filings and Compliance
Lipocine Files Prospectus to Enable $50M Stock Offering
Neutral
Mar 4, 2026
On April 26, 2024, Lipocine Inc. entered into a sales agreement with A.G.P./Alliance Global Partners to offer and sell shares of its common stock from time to time through the sales agent. On February 26, 2026, the company filed a prospectus suppl...
Business Operations and StrategyProduct-Related Announcements
Lipocine Completes Phase 3 Trial for Postpartum Depression
Positive
Feb 18, 2026
On February 18, 2026, Lipocine announced that the last patient completed the final visit in its pivotal randomized, double-blind, placebo-controlled Phase 3 trial of LPCN 1154, an oral formulation of brexanolone, for severe postpartum depression. ...
Business Operations and StrategyRegulatory Filings and Compliance
Lipocine Updates Investor Presentation to Reflect Latest Strategy
Neutral
Feb 18, 2026
Lipocine has updated the corporate presentation it uses in meetings with investors, analysts and other stakeholders, and formally filed the revised materials for public access. The refreshed deck is intended to align the company’s external c...
Business Operations and StrategyProduct-Related Announcements
Lipocine Completes Phase 3 Enrollment for Postpartum Depression Drug
Positive
Jan 20, 2026
On January 20, 2026, Lipocine announced it has completed enrollment and dosing of 90 patients in its Phase 3 clinical trial of LPCN 1154, an oral formulation of brexanolone, for the treatment of postpartum depression, with the candidate showing a ...
Business Operations and StrategyRegulatory Filings and Compliance
Lipocine updates investor presentation and corporate materials
Neutral
Jan 12, 2026
Lipocine reported that it has updated the corporate presentation it uses in discussions with investors, analysts and other stakeholders. The refreshed materials, which have been formally filed, are intended to support the company’s ongoing i...
Business Operations and StrategyProduct-Related Announcements
Lipocine Advances Phase 3 Postpartum Depression Drug Trial
Positive
Jan 12, 2026
On January 12, 2026, Lipocine reported that an independent Data Safety Monitoring Board completed its second planned interim safety review of the company’s Phase 3 trial of LPCN 1154, an oral brexanolone candidate for rapid treatment of post...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.