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Lipocine
(NASDAQ:LPCN)
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Rating:45Neutral
Price Target:
$1.50
▼(-30.23% Downside)
Action:Reiterated
Date:10/07/26
The score is held down primarily by weak financial performance (declining revenue, sizable losses, and ongoing negative free cash flow) and a bearish technical setup (price below key moving averages with negative MACD). Positive corporate developments (notably Health Canada approval for TLANDO and a new Phase 3 study) provide upside potential, but do not yet offset the current profitability and cash-burn profile.
Positive Factors
TLANDO Canadian approval
Health Canada approval converts TLANDO from a development asset into a product with a defined commercialization path in Canada. Verity’s planned launch and the cited market of more than 700,000 annual prescriptions could create a durable partner-led revenue opportunity.
Negative Factors
Declining revenue and deep losses
Shrinking revenue combined with a substantial net loss indicates that Lipocine has not yet established a reliable earnings base. Continued operating losses reduce predictability and make future value creation dependent on successful product launches, partnerships, or clinical milestones.
Read all positive and negative factors
Positive Factors
Negative Factors
TLANDO Canadian approval
Health Canada approval converts TLANDO from a development asset into a product with a defined commercialization path in Canada. Verity’s planned launch and the cited market of more than 700,000 annual prescriptions could create a durable partner-led revenue opportunity.
Read all positive factors
Lipocine (LPCN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$14.18M
Dividend YieldN/A
Average Volume (3M)3.63M
Price to Earnings (P/E)―
Beta (1Y)0.23
Revenue Growth-62.70%
EPS Growth-121.27%
CountryUS
Employees14
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.87
Shares Outstanding8,244,253
10 Day Avg. Volume10,842,368
30 Day Avg. Volume3,634,998
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 Cap-0.16
Enterprise Value/Revenue-1.42
Enterprise Value/Gross Profit-1.45
Enterprise Value/Ebitda0.19
Forecast
1Y Price Target
$5.00Price Target Upside132.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-1.55
Revenue Forecast (FY)$753.50K
Lipocine Business Overview & Revenue Model
Company Description
Lipocine Inc. is a biopharmaceutical firm currently in the clinical development phase, concentrating its efforts on creating medicinal products to address a range of neuroendocrine and metabolic conditions. A core aspect of the company's research ...
How the Company Makes Money
Lipocine’s business model has historically been typical of a clinical-stage biopharmaceutical developer: it seeks to generate value by advancing proprietary drug candidates through research and clinical development and then monetizing them through...
Lipocine Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.57M | 1.98M | 11.20M | -2.85M | 500.00K | 16.14M |
| Gross Profit | 1.54M | -6.61M | 11.20M | -13.03M | -8.06M | 8.48M |
| EBITDA | -11.79M | -9.57M | 50.14K | -16.32M | -10.72M | -430.53K |
| Net Income | -11.85M | -9.63M | 8.35K | -16.35M | -10.76M | -634.40K |
Balance Sheet | ||||||
| Total Assets | 23.84M | 17.01M | 22.51M | 23.00M | 37.54M | 52.48M |
| Cash, Cash Equivalents and Short-Term Investments | 23.27M | 14.93M | 21.63M | 22.04M | 32.53M | 44.62M |
| Total Debt | 0.00 | 449.59K | 0.00 | 0.00 | 0.00 | 2.31M |
| Total Liabilities | 2.07M | 2.53M | 1.51M | 2.63M | 1.91M | 6.91M |
| Stockholders Equity | 21.77M | 14.48M | 21.00M | 20.37M | 35.63M | 45.57M |
Cash Flow | ||||||
| Free Cash Flow | -11.19M | -9.76M | -1.31M | -11.88M | -12.10M | -4.42M |
| Operating Cash Flow | -11.19M | -9.76M | -1.22M | -11.87M | -11.97M | -4.41M |
| Investing Cash Flow | -6.15M | 5.89M | 2.45M | 13.08M | 14.29M | -43.78M |
| Financing Cash Flow | 16.27M | 2.87M | 209.34K | 404.57K | -2.13M | 26.92M |
Lipocine Technical Analysis
Negative
2.15
Price Trends
2.15
Negative
2.21
Negative
4.36
Negative
Market Momentum
-0.07
Positive
29.28
Positive
5.60
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 2.15 is above the 20-day moving average (MA) of 2.11, above the 50-day MA of 2.15, and below the 200-day MA of 4.36, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 29.28 is Positive, neither overbought nor oversold. The STOCH value of 5.60 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% | |
49 Neutral | $5.33M | -1.30 | -109.26% | ― | -100.00% | 49.19% | |
47 Neutral | $15.74M | -1.37 | -569.36% | ― | ― | 63.72% | |
45 Neutral | $14.18M | -0.93 | -64.75% | ― | -62.70% | -121.27% | |
43 Neutral | $53.00M | -2.68 | -47.92% | ― | -75.00% | 74.04% |
* Healthcare Sector Average
LPCN
Lipocine
1.72
-1.39
-44.69%
IBIO
Ibio
0.87
0.06
7.80%
PULM
Pulmatrix
1.46
-3.44
-70.20%
BCDA
BioCardia
1.04
-0.47
-31.13%
ASBP
Aspire Biopharma Holdings
8.30
-372.22
-97.82%
Lipocine Corporate Events
Business Operations and StrategyProduct-Related Announcements
Lipocine’s TLANDO Wins Health Canada Approval
Positive
Oct 7, 2026
On October 7, 2026, Lipocine and its partner Verity Pharmaceuticals reported that Health Canada had approved TLANDO capsules as a testosterone replacement therapy for adult men with conditions linked to deficient or absent endogenous testosterone....
Business Operations and Strategy
Lipocine Highlights Strategy at Global Investor Conference
Positive
Sep 16, 2026
On September 16, 2026, Lipocine presented at the H.C. Wainwright 28th Annual Global Investor Conference, held September 14–16 in New York City. The company used the event to share an investor presentation, underscoring its efforts to engage ...
Business Operations and StrategyProduct-Related Announcements
Lipocine Launches Phase 3 BLOOM Study for PPD
Positive
Sep 14, 2026
Lipocine announced on September 14, 2026, that it has initiated BLOOM, a new Phase 3 study of LPCN 1154, an investigational oral brexanolone designed as a 48-hour at-home treatment for severe postpartum depression. The study aims to enroll about 1...
Business Operations and StrategyRegulatory Filings and Compliance
Lipocine Updates Sales Agreement Fee Structure with A.G.P.
Neutral
Sep 11, 2026
On September 8, 2026, Lipocine Inc. and A.G.P./Alliance Global Partners amended their existing Sales Agreement, originally dated April 26, 2024, to set the Sales Agent’s fee on sales made under the arrangement at up to 3.0%. This adjustment ...
Business Operations and Strategy
Lipocine to Present at H.C. Wainwright Investment Conference
Positive
Sep 10, 2026
Lipocine Inc., a specialty biopharmaceutical company listed on NASDAQ, develops novel orally delivered therapeutics targeting large, unmet-need markets such as depressive disorders, epilepsy, essential tremor, obesity, liver cirrhosis, and preterm...
Business Operations and StrategyExecutive/Board Changes
Lipocine Appoints Industry Veteran Grissinger to Board
Positive
Aug 3, 2026
On August 3, 2026, Lipocine Inc., a biopharmaceutical firm specializing in oral drug delivery, announced the appointment of industry veteran Michael J. Grissinger to its Board of Directors, effective the same day. Grissinger brings more than two d...
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.