NasdaqCM:LPCN - Analysts future estimates and past financials data (USD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2027	8	-8	N/A	N/A	1
12/31/2026	3	-13	N/A	N/A	1
12/31/2025	3	-12	N/A	N/A	2
12/31/2024	9	-5	N/A	N/A	2
9/30/2024	8	-4	-5	-5	N/A
6/30/2024	5	-8	-5	-5	N/A
3/31/2024	5	-9	-6	-6	N/A
12/31/2023	-3	-16	-12	-12	N/A
9/30/2023	-3	-16	-12	-12	N/A
6/30/2023	0	-12	-12	-12	N/A
3/31/2023	1	-11	-12	-12	N/A
12/31/2022	1	-11	-12	-12	N/A
9/30/2022	17	4	-1	-1	N/A
6/30/2022	17	3	-5	-5	N/A
3/31/2022	16	-1	-4	-4	N/A
12/31/2021	16	-1	-4	-4	N/A
9/30/2021	0	-18	-17	-17	N/A
6/30/2021	N/A	-19	-14	-14	N/A
3/31/2021	N/A	-19	-16	-16	N/A
12/31/2020	N/A	-21	-15	-15	N/A
9/30/2020	N/A	-20	-15	-15	N/A
6/30/2020	0	-18	-14	-14	N/A
3/31/2020	0	-16	-12	-12	N/A
12/31/2019	0	-13	-12	-12	N/A
9/30/2019	0	-13	-11	-11	N/A
6/30/2019	N/A	-12	-11	-11	N/A
3/31/2019	N/A	-12	-11	-11	N/A
12/31/2018	0	-12	-12	-12	N/A
9/30/2018	0	-14	-14	-14	N/A
6/30/2018	0	-16	N/A	-15	N/A
3/31/2018	0	-19	N/A	-17	N/A
12/31/2017	N/A	-21	N/A	-17	N/A
9/30/2017	N/A	-19	N/A	-15	N/A
6/30/2017	N/A	-17	N/A	-14	N/A
3/31/2017	N/A	-17	N/A	-15	N/A
12/31/2016	N/A	-19	N/A	-18	N/A
9/30/2016	N/A	-21	N/A	-19	N/A
6/30/2016	N/A	-24	N/A	-20	N/A
3/31/2016	N/A	-22	N/A	-19	N/A
12/31/2015	N/A	-18	N/A	-15	N/A
9/30/2015	N/A	-18	N/A	-16	N/A
6/30/2015	N/A	-15	N/A	-13	N/A
3/31/2015	N/A	-18	N/A	-17	N/A
12/31/2014	N/A	-20	N/A	-17	N/A
9/30/2014	N/A	-21	N/A	-17	N/A
6/30/2014	N/A	-20	N/A	-18	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: LPCN is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: LPCN is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: LPCN is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: LPCN's revenue (32.4% per year) is forecast to grow faster than the US market (9% per year).

High Growth Revenue: LPCN's revenue (32.4% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if LPCN's Return on Equity is forecast to be high in 3 years time

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/21 18:05
End of Day Share Price	2025/01/21 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Lipocine Inc. is covered by 7 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Scott Henry	Alliance Global Partners
John Newman	Canaccord Genuity
Corey Davis	Canaccord Genuity

Lipocine Future Growth

Future criteria checks 2/6

Key information

Recent future growth updates

Price target decreased by 35% to US$21.50

Price target decreased by 13% to US$33.00

Consensus EPS estimates fall by 27%

Consensus revenue estimates fall by 60%

Consensus revenue estimates fall by 20%

Price target increased to US$3.83

Recent updates

FDA Grants Fast Track Designation to Lipocine Inc. for LPCN 1148 as a Treatment for Sarcopenia in Patients with Decompensated Cirrhosis

Lipocine Inc. Announces Publication and Discussion of LPCN 1148 Manuscript at Liver Meeting 2024 Editor’s Cut Session

Lipocine Inc. Announces Positive Oral Brexanolone Quantitative EEG Results

Price target decreased by 35% to US$21.50

New major risk - Revenue and earnings growth

Lipocine Announces LPCN 1154 Meets Bioequivalence with IV Brexanolone in Pivotal Study

Lipocine Inc. Presents 52 Week Results from LPCN 1148 Phase 2 Study in Late-Breaking Session at EASL Congress 2024

First quarter 2024 earnings released: EPS: US$0.66 (vs US$0.74 loss in 1Q 2023)

Lipocine Announces Completion of Dosing in Pivotal Study of Postpartum Depression Candidate, LPCN 1154

Lipocine Inc., Annual General Meeting, Jun 05, 2024

Lipocine Inc. Announces Positive LPCN 2401 Clinical Results Showing Improved Body Composition in Participants with Obesity

Lipocine Inc. Announces Positive Week 52 Results from LPCN 1148 Phase 2 Study in Patients with Cirrhosis

Lipocine Announces First Cohort Dosed in Pivotal Study of LPCN 1154

Price target decreased by 13% to US$33.00

Lipocine Announces Confirmation of Dosing Regimen for Pivotal Study of LPCN 1154

New minor risk - Share price stability

Consensus EPS estimates fall by 27%

New major risk - Revenue and earnings growth

Lipocine Inc. Completes Successful Meeting with FDA on LPCN 1154 in Postpartum Depression

New minor risk - Shareholder dilution

Lipocine Inc. Announces Positive Topline Results from A Phase 2 Clinical Study of LPCN 1148

Consensus revenue estimates fall by 60%

Consensus revenue estimates fall by 20%

Lipocine Inc. Completes Enrollment of LPCN 1148 Phase 2 Study for Decompensated Cirrhosis

Lipocine Receives Non-Compliance Letter from Nasdaq Regarding an Additional 180-Day Grace Period

Price target increased to US$3.83

Price target increased to US$3.83

Lipocine Inc. Announces Senior Leadership Appointments to Advance Its CNS-Focused Pipeline

Lipocine Announces Strategic Realignment and Forward Focus on Treating CNS Disorders

Lipocine announces plans to focus on treating CNS disorders, shares rise ~5%

Lipocine Announces Favorable Regulatory Pathway on Oral LPCN 1154 for Post-Partum Depression (PPD)

Price target decreased to US$3.33

Lipocine Inc. Announces U.S. Food and Drug Administration Accept Its Investigational New Drug Application

Lipocine Receives Non-Compliance Letter from Nasdaq

Consensus revenue estimates fall by 67%

Lipocine Inc. Announces Positive LPCN 1144 Nash Open Label Extension Study Results

Price target decreased to US$3.83

Insufficient new directors

Lipocine Inc., Annual General Meeting, Jun 08, 2022

Lipocine Inc. Announces Board Appointments

Lipocine Inc. Announces Its Partner Received FDA Approval of TLANDO™

Consensus forecasts updated

Lipocine Inc. Announces Regulatory Guidance on LPCN 1144 in Non-Cirrhotic Nash

Does Lipocine (NASDAQ:LPCN) Have A Healthy Balance Sheet?

Lipocine Inc. Announces Peer-Reviewed Publication of Positive Phase 3 Study Results for TLANDO

Lipocine Inc. Announces Patient Dosed in its Phase 2 Study with LPCN 1148 for Management of Liver Cirrhosis

No longer forecast to breakeven

Price target decreased to US$3.75

Lipocine Inc. Announces FDA Affirmation of Class 1 NDA Resubmission for Tlando®

Is Lipocine (NASDAQ:LPCN) Using Debt Sensibly?

Lipocine Inc. Announces Positive Topline 36-Week Results from Phase 2 Proof of Concept Lift

No longer forecast to breakeven

Consensus forecasts updated

Lipocine Inc. Enters into Global Settlement and License Agreement with Clarus Therapeutics Inc. to Resolve All Outstanding Claims in On-Going Intellectual Property Litigation and Interference Proceeding

Price target decreased to US$4.50

Lipocine Inc. Announces U.S. Food and Drug Administration Clears Investigational New Drug Application to Initiate A Phase 2 Study to Evaluate the Therapeutic Potential of LPCN 1154

Lead Independent Director Stephen Hill has left the company

Lipocine soars 9% on FDA greenlight for Phase 2 LPCN 1154 study in postpartum depression

Clarus Therapeutics Defeats Lipocine's Patent Infringement Lawsuit On Summary Judgment

Lipocine competitor prevails in patent infringement lawsuit for Jatenzo

When Will Lipocine Inc. (NASDAQ:LPCN) Turn A Profit?

Lipocine EPS beats by $0.01

Lipocine Inc. (NASDAQ:LPCN): Are Analysts Optimistic?

New 90-day high: US$1.76

Lipocine Inc. Announces USPTO Declaration Of Interference Between Lipocine And Clarus Patent Applications

Lipocine Inc. Announces Positive Topline Phase 2 Results from LPCN 1144 Ongoing LiFT Study in Biopsy-Confirmed Nash Subjects

Lipocine announces positive results from phase 2biopsy-confirmed NASH study

Lipocine Announces Open Label Extension to Ongoing LPCN 1144 LiFT Study

Price target raised to US$5.33