Cantor starts Lipocine at OW; PT $3


Cantor Fitzgerald initiated coverage of Lipocine (NASDAQ:LPCN) with an “overweight” rating and 12-month price target of $3. The stock closed at $1.36 on June 23.

“We think Lipocine has multiple shots on goal across its metabolic and endocrine disorders pipeline over the next 12-to-18 months, and think that the peak sales opportunity for the company’s pipeline assets …  are underappreciated,” writes analyst Jennifer Kim. 

“We expect upwards earnings estimate revisions, driven by pipeline advancements, to move the stock higher,” she added. 

Ms. Kim cited a number of potential catalysts, including 36-week data for the Phase 2 LiFT study for LPCN 1144 in non-cirrhotic non-alcoholic steatohepatitis in August 2021; top-line results for the pharmacokinetic study for LPCN 1154 for postpartum depression in the third quarter of 2021; final FDA approval decision for TLANDO for testosterone replacement therapy to treat hypogonadism, which is expected in March 2022, with a potential launch to follow; and potential partnership/licensing for TLANDO.