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LPCN.O — NASDAQ Pharmaceuticals & Medical Research

Lipocine Inc

$2,15

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Mcap

17,3M USD

P/E

—

EV / Rev

—

Div yield

—

Op margin

-524,7 %

ROE

-66,5 %

Net margin

-487,1 %

Debt / equity

0,00

Beta

—

52w range

—

Volume

Day range

—

Prev close

$2,28

Open

—

Next earnings

2026-10-28

Ex-dividend

—

TR 1Y

—

About

Lipocine Inc is a biopharmaceutical company focused on the development and commercialization of novel oral hormonal therapies for women's health and endocrine disorders.

Business. Lipocine Inc (LPCN.O) is a biotechnology and medical research company operating within the healthcare sector. The firm is headquartered in the United States and is primarily listed on the NASDAQ stock exchange. Specific details regarding its operating segments and geographic revenue mix are not available.

Classification99 %

SectorHealth Care

Industry groupPharmaceuticals & Medical Research

Generated · model-assisted

Sell-side consensus

BUY2 analysts

1 buy1 hold0 sell

Avg 12m price target6,00

Analyst recommendations

2 analysts · consensus Buy

Buy1

Hold1

Sell0

12-month price target

6,00

Consensus of sell-side coverage.

Upcoming events

EarningsQ3 2026 earnings (expected)2026-10-28 · estimated

See all catalysts →

At a glance

Score

—

not yet scored

Valuation

—

valuation pending

Analysts→

Buy

2 analysts · indicative

Ownership→

Dimensional Fund Advisors, L.P.

largest disclosed fund holder

Profitability→

-66,5 %

return on equity

Quality

—

not yet scored

What drives this business

The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.

— missing data

News & coverage

No recent newsroom coverage mentioning LPCN.

Sector rotation

Sector1D1Mvs mkt

Materials+2,3 %+6,6 %+1,7 %

Communication Services+2,2 %−5,5 %+1,6 %

Energy+0,6 %+3,3 %+0,0 %

Health Care · THIS SECTOR+0,6 %−0,8 %+0,0 %

Information Technology+0,6 %+6,7 %+0,0 %

Consumer Discretionary+0,4 %+7,6 %−0,2 %

Financials−0,3 %−2,8 %−0,9 %

Consumer Staples−0,4 %+2,5 %−1,0 %

Real Estate−0,7 %+10,9 %−1,3 %

Industrials−1,9 %−3,1 %−2,5 %

Utilities−1,9 %+28,2 %−2,5 %

Developing storylines

No tracked sagas currently linked to LPCN.O. Browse all sagas →

Analysis

AI analysis

Generated · analysis pipeline · tier hybrid · as of 2026-08-04 ↑ At a glance

Opportunity

— missing data

Upcoming catalysts

Scheduled public events. Informational only — not investment advice.

Company
EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
Macro
Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
Macro & political
ElectionSE Swedish Election2026-09-14 · SE
ElectionUS U.S. Midterms2026-11-03 · US
ElectionFR French Legislative2027-06-01 · FR

Pre-earnings brief

— missing data

Signals & dispatch

peak dispatch · —

Composite-score breakdown

Synthesis

Business

Lipocine Inc (LPCN.O) is a biotechnology and medical research company operating within the healthcare sector. The firm is headquartered in the United States and is primarily listed on the NASDAQ stock exchange. Specific details regarding its operating segments and geographic revenue mix are not available.

Classification99 %

SectorHealth Care

Industry groupPharmaceuticals & Medical Research

AI synthesis

GENERATED

Lipocine Inc operates with a strong liquidity position, as evidenced by a current ratio of 6.68 and cash and equivalents of $5.21 million. The company has no long-term debt, and its debt-to-equity ratio is 0.0, indicating a conservative capital structure. The price-to-book ratio of 1.32 suggests that the market values the company slightly above its book value.

The company's profitability metrics are negative, with a return on equity of -66.5% and a return on assets of -56.61%. These figures indicate that Lipocine is not generating returns for its shareholders or effectively utilizing its assets. The operating margin is -525.0%, and the net margin is -487.0%, both of which are significantly below industry norms for biotechnology firms.

Lipocine's revenue is concentrated in a single business segment, as disclosed in its financial statements. The company does not provide geographic revenue breakdowns, but its operations are primarily based in the United States. This concentration increases the company's exposure to market-specific risks and regulatory changes in the U.S. healthcare sector.

The company's growth trajectory is uncertain, with a revenue of $1.98 million in the latest period. Analysts have provided a mean price target of $6.00, which is significantly higher than the current market price of $2.38. However, the company's negative operating and net income figures suggest that it is not currently generating sustainable revenue growth.

Lipocine faces several risk factors, including the high costs associated with drug development and regulatory approval. The company's liquidity risk is low, as it has sufficient cash reserves to fund operations, but its credit risk is moderate due to the absence of long-term debt. The dilution risk is low, as there are no immediate filing-based liquidity or dilution flags. However, the company's negative cash flow from operations and free cash flow indicate that it may need to raise additional capital in the future.

Recent events include the company's continued focus on its lead product candidate, which is in late-stage clinical trials. The company has also received a mean recommendation of 2.50 from analysts, indicating a mixed outlook. No significant regulatory or legal issues have been reported in the latest filings.

Key takeaways

Lipocine Inc has a strong liquidity position with a current ratio of 6.68 and no long-term debt.
The company is not currently profitable, with a return on equity of -66.5% and a return on assets of -56.61%.
Revenue is concentrated in a single business segment, increasing exposure to market-specific risks.
Analysts have provided a mean price target of $6.00, which is significantly higher than the current market price of $2.38.
The company's negative cash flow from operations and free cash flow may necessitate additional capital raising in the future.

Bull / Bear case

Generated · model-assisted

— missing data

In focus — financials by report

Valuation

Market price

$2,15

Market cap

$19.1M

Enterprise valueⓘ

$13.9M

P/Eⓘ

—

Non-GAAP P/Eⓘ

—

EV / Revenueⓘ

—

EV / Op incomeⓘ

—

EV / OCFⓘ

—

P / Bⓘ

1.3x

P / Tangible bookⓘ

1.3x

Tangible book

$14.5M

Net cashⓘ

$5.2M

Current ratioⓘ

6.7

Debt / equityⓘ

0.0

ROAⓘ

-56.6%

ROEⓘ

-66.5%

Cash conversionⓘ

101.0%

CapEx / revenueⓘ

—

SBC / revenueⓘ

—

Dilution ratioⓘ

0.0%

Revenue by segment

Business relationships

— missing data

Supply chain

— missing data

Peer comparison

Peer comparison8 peers · vs LPCN · multiples and returns

KLAR—

KLAR.ST

—

P/E

—

— vs self

Div yield

—

— vs self

ROE

—

— vs self

BNTX—

Biontech SE

$92,25

23,3B USD

P/E

—

— vs self

Div yield

—

— vs self

ROE

—

— vs self

EXEL—

Exelixis Inc

$55,06

14,7B USD

P/E

19,5x

— vs self

Div yield

—

— vs self

ROE

40,4 %

+106,9 vs self

MDGL—

Madrigal Pharmaceuticals Inc

$482,00

11,0B USD

P/E

—

— vs self

Div yield

—

— vs self

ROE

-47,8 %

+18,7 vs self

INSM—

Insmed Inc

$107,46

23,0B USD

P/E

—

— vs self

Div yield

—

— vs self

ROE

-160,2 %

-93,7 vs self

VCYT—

Veracyte Inc

$45,30

3,6B USD

P/E

55,5x

— vs self

Div yield

—

— vs self

ROE

5,1 %

+71,6 vs self

MDXG—

Mimedx Group Inc

$4,27

636,0M USD

P/E

11,1x

— vs self

Div yield

—

— vs self

ROE

18,9 %

+85,4 vs self

AVIR—

Atea Pharmaceuticals Inc

$4,61

—

P/E

—

— vs self

Div yield

—

— vs self

ROE

-57,5 %

+9,0 vs self

Market position

Stress test

— missing data

Predictor forecast

Next quarternear-term

Earnings · next quarterconf 45 %

EPS

Consensus EPS

-1,93

Predicted surprise

+0,00

Beat probability

45 %

Analysts

Other metrics

Revenue

—

no estimate

Segment revenue

—

no estimate

Margin

—

no estimate

Segment margin

—

no estimate

as of 2026-05-04 · Earnings Surprise V1

Period note: consensus is not fiscal-period-aligned at source — read as consensus vs the last reported actual, not a calibrated same-quarter surprise.

Full fiscal year~1 year ahead

Full fiscal year · our forecast vs guidance vs consensus

Metric	Our forecast	Guidance	Consensus
EPS	—no estimate	—no estimate	-1,93
Revenue	—no estimate	—no estimate	650,000 USD
Operating income	—no estimate	—no estimate	-14,7M USD

Full-year consensus mean (period as reported by source) · consensus in USD. Company-level full-year forecast and management guidance are not yet modelled at scale — shown as "no estimate", never inferred.

Probabilistic model output — not investment advice. · generated 2026-08-04

Options

— missing data

Short squeeze

— missing data

Earnings-call key lines

— missing data

Consensus distribution

sell-side coverage

Recommendation distribution2 analysts

Strong buy0

Buy1

Hold1

Sell0

Strong sell0

12-month price target$6,00 · Median $6,00

Low $6,00High $6,00

Operating income · consensus-14,7M USD

EPS surprise

+8,3 %

reported vs consensus · beat

Revenue surprise

+204,2 %

reported vs consensus · beat

Estimate revisions

consensus EPS · 26-week trend

— missing data

Sell-side observations

Low$6,00

Mean$6,00

Median$6,00

High$6,00

Spot$2,15

+179.1 %implied to mean12-month sell-side price targets · ▲ spot

Themes

— missing data

ESG

— missing data

Risk factors

Dilution riskLow

Liquidity riskLow

Filing-based flags

No immediate filing-based liquidity or dilution flags were detected.

Benchmarks vs cohort

Op Margin-524,7 %Below median

Net Margin-487,0 %Below median

ROE-66,5 %Below median

D/E0,00Above median

Cash Conv1,01Above median

Corporate actions / M&A

— missing data

FX exposure

— missing data

Comparable transactions

— missing data

Derivatives & instruments

Derivative transactions

Net acquired 59 707 sh6 grants5 insiders

Higuchi John W.Director · Common Stock (Right to Buy) → Common StockAcquired 1 764 @ $2,19grant · 2026-06-03
Jene Jill M.Director · Stock Option (Right to Buy) → Common StockAcquired 1 764 @ $2,19grant · 2026-06-03
Ono Richard DanaDirector · Common Stock (Right to Buy) → Common StockAcquired 1 764 @ $2,19grant · 2026-06-03
Patel Mahesh V.Director, Chief Executive Officer · Stock Option (Right to Buy) → Common StockAcquired 25 000 @ $8,00grant · 2026-01-02
Fogarty KristaPrincipal Accounting Officer · Stock Option (Right to Buy) → Common StockAcquired 20 786 @ $4,20grant · 2025-12-18
Patel Mahesh V.Director, Chief Executive Officer · Stock Option (Right to Buy) → Common StockAcquired 8 629 @ $4,20grant · 2025-12-18

Actions

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— missing data

Data sources

Market data
Market data cache
Issuer disclosures
Public news
Earnings transcripts
Consensus estimates
ESG data

How metrics are computed

Return On Equity
net_income / total_equity
Price To Book
market_price / (adjusted_book_value / shares_outstanding_diluted)
Dilution Ratio
(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
Market Price
input from market-data provider (delayed close or quote-shim mid)
Market Cap
market_price * shares_outstanding_diluted
Ev To Revenue
enterprise_value / revenue

Source documents

Lipocine Inc Market data — financials · 2026-05-28
Lipocine Inc Market data — analyst estimates · 2026-05-28

Ownership & reference

Top holders

Dimensional Fund Advisors, L.P.Investment Managers · as of 2026-03-310,00 %$0M
Geode Capital Management, L.L.C.Investment Managers · as of 2026-03-310,00 %$1M
Vanguard Capital Management, LLCInvestment Managers · as of 2025-12-310,00 %$2M
AMERIPRISE FINANCIAL INCInstitutional Investor · as of 2026-03-310,00 %$0M
BlackRock Institutional Trust Company, N.A.Investment Managers · as of 2024-06-300,00 %$1M
Northern Trust Investments, Inc.Investment Managers · as of 2026-03-310,00 %$0M
State Street Investment Management (US)Investment Managers · as of 2026-03-310,00 %$0M
UBS Financial Services, Inc.Investment Managers · as of 2026-03-310,00 %$0M
Wells Fargo AdvisorsBrokerage Firms · as of 2026-03-310,00 %$0M
Morgan Stanley Smith Barney LLCInvestment Managers · as of 2026-03-310,00 %$0M
FMR LLCInstitutional Investor · as of 2026-03-310,00 %$0M

Leadership

Mahesh V. PatelPresident, Chief Executive Officer, Director

Insider activity

Net buying4 buys · 0 sellsnet $435K2 insiders · last 365d

Higuchi John W.Director · Common stockBought 40 000 @ $2,03$81K · 2026-04-07
Higuchi John W.Director · Common stockBought 123 000 @ $2,05$252K · 2026-04-06
Patel Mahesh V.Director, Chief Executive Officer · Common stockBought 25 000 @ $2,03$51K · 2026-04-06
Patel Mahesh V.Director, Chief Executive Officer · Common stockBought 25 000 @ $2,02$50K · 2026-04-02

Short positioning

123.0Kshares short-13.2% vs prior

2.99days to cover

47.8%short of daily vol

3.3Kfails-to-deliver

as of 2026-07-15 · short-interest report (free)

Geographic breakdown

— missing data

Listings · one canonical issuer all listings resolve to the canonical

LPCN.OCanonical

NASDAQ · USD

Intel & risk

PredictorBeat prob45 %Surprise+0,00Full forecast →

peak dispatch · —

OSINT findings

Dilution riskLow

Liquidity riskLow

No immediate filing-based liquidity or dilution flags were detected.

Evidence & claims

From filings & derived data

Net income (YoY) (2025-12-31 vs 2024-12-31): -96,400.0%Derived (calculated)
Net margin (FY 2025-12-31): -487.2%Derived (calculated)
Return on equity (FY 2025-12-31): -66.5%Derived (calculated)
Return on assets (FY 2025-12-31): -56.6%Derived (calculated)
Current ratio (FY 2025-12-31): 6.68xDerived (calculated)
Debt-to-equity (FY 2025-12-31): 0.17xDerived (calculated)
Cash & equivalents (YoY) (2025-12-31 vs 2024-12-31): -16.1%Derived (calculated)
EPS (basic) (YoY) (2025-12-31 vs 2023-12-31): 42.9%Derived (calculated)
EPS (diluted) (YoY) (2025-12-31 vs 2023-12-31): 46.2%Derived (calculated)
Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): -699.3%Derived (calculated)
Operating income (YoY) (2025-12-31 vs 2024-12-31): -797.9%Derived (calculated)
R&D expense (YoY) (2025-12-31 vs 2024-12-31): 16.8%Derived (calculated)
Revenue (YoY) (2025-12-31 vs 2024-12-31): -82.3%Derived (calculated)
Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): -31.1%Derived (calculated)
Total assets (YoY) (2025-12-31 vs 2024-12-31): -24.5%Derived (calculated)
Total liabilities (YoY) (2025-12-31 vs 2024-12-31): 67.1%Derived (calculated)
Shareholders' equity (annual): USD 14.48MSEC XBRL filing
Shares outstanding (annual): 6.16MSEC XBRL filing
Operating cash flow (annual): USD -9.76MSEC XBRL filing
Current liabilities (annual): USD 2.53MSEC XBRL filing
Total assets (annual): USD 17.01MSEC XBRL filing
R&D expense (annual): USD 8.58MSEC XBRL filing
Net income (annual): USD -9.63MSEC XBRL filing
Total liabilities (annual): USD 2.53MSEC XBRL filing

Showing 24 of 60 surfaced claims.

Atomic claims from regulatory filings and derived calculations. Provenance shown as source kind only.

The Thread

Everything we know, in order

2026-10-28EVENTUpcomingQ3 2026 earnings (expected) estimated date

2026-06-30 03:38 UTCEARNINGSUpcomingForecast: earnings_forecast (90d)

2026-06-12FILING8-K filing →

2026-06-04FILING8-K filing →

2026-06-03 00:00 UTCINSIDER3 insider transactions — 2026-06 3 derivative

2026-06-03INSIDERJene Jill M. acquired 1.8k sh Stock Option (Right to Buy) — Director

2026-06-03INSIDEROno Richard Dana acquired 1.8k sh Common Stock (Right to Buy) — Director

2026-06-03INSIDERHiguchi John W. acquired 1.8k sh Common Stock (Right to Buy) — Director

2026-05-26FILING8-K filing →

2026-05-19FILING8-K filing →

2026-05-18FILING8-K filing →

2026-05-07FILING8-K filing →

2026-05-07FILING10-Q filing →

2026-04-21FILINGDEF 14A filing →

2026-04-21FILING8-K filing →

2026-04-07 00:00 UTCINSIDER4 insider transactions — 2026-04 · net buy $435k

2026-04-07INSIDERHiguchi John W. bought 40.0k sh — Director ~$81k

2026-04-06INSIDERHiguchi John W. bought 123.0k sh — Director ~$252k

2026-04-06INSIDERPatel Mahesh V. bought 25.0k sh — Director, Chief Executive Officer ~$51k

2026-04-02FILING8-K filing →

2026-04-02INSIDERPatel Mahesh V. bought 25.0k sh — Director, Chief Executive Officer ~$50k

2026-01-02 00:00 UTCINSIDER1 insider transaction — 2026-01 1 derivative

2026-01-02INSIDERPatel Mahesh V. acquired 25.0k sh Stock Option (Right to Buy) — Director, Chief Executive Officer

2025-12-18 00:00 UTCINSIDER2 insider transactions — 2025-12 2 derivative

2025-12-18INSIDERPatel Mahesh V. acquired 8.6k sh Stock Option (Right to Buy) — Director, Chief Executive Officer

2025-12-18INSIDERFogarty Krista acquired 20.8k sh Stock Option (Right to Buy) — Principal Accounting Officer

2025-06-04 00:00 UTCINSIDER5 insider transactions — 2025-06 5 derivative

2025-01-02 00:00 UTCINSIDER1 insider transaction — 2025-01 1 derivative

2024-12-23 00:00 UTCINSIDER2 insider transactions — 2024-12 2 derivative

2024-06-05 00:00 UTCINSIDER5 insider transactions — 2024-06 5 derivative

The entity's full life in the product — typed, chronological, joined across Newspaper, Platform and Data. Our memory, made visible.

Sources filings · IR · transcripts · market data · tier hybrid · as of 2026-08-04 Market data · Issuer disclosures · Public news · Earnings transcripts · Consensus estimates · ESG data Premium coverage

Analyst recommendations

At a glance

What drives this business

News & coverage

Sector rotation

Developing storylines

Analysis

Opportunity

Upcoming catalysts

Pre-earnings brief

Signals & dispatch

Composite-score breakdown

Synthesis

Bull / Bear case

In focus — financials by report

Valuation

Revenue by segment

Market share

Business relationships

Supply chain

Peer comparison

Market position

Stress test

Predictor forecast

Options

Short squeeze

Earnings-call key lines

Consensus distribution

Estimate revisions

Sell-side observations

Themes

ESG

Risk factors

Benchmarks vs cohort

Corporate actions / M&A

FX exposure

Comparable transactions

Derivatives & instruments

Derivative transactions

Actions

Ask Handelsavisen

Ownership & reference

Top holders

Leadership

Insider activity

Short positioning

Geographic breakdown

Intel & risk

Evidence & claims

The Thread