What is the 13F Pro Quality Score for LPCN?

13F Pro ranks Lipocine Inc. (LPCN) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View LPCN's current score at https://13fpro.ai/research/LPCN (free sign-up required for the full ranking).

Which hedge funds own the most LPCN stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of LPCN include Ikarian Capital,, Squadron Capital Management, Eversept Partners,. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/LPCN as soon as new 13F filings post.

Where does 13F Pro source LPCN data?

All Lipocine Inc. fundamentals and ownership data come directly from SEC EDGAR. Lipocine Inc. files with the SEC under CIK 1535955. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is LPCN in?

Lipocine Inc. (LPCN) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is LPCN research updated on 13F Pro?

LPCN's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Lipocine Inc.(LPCN)Stock Analysis

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13F Pro Quality Score

Not in ranked universe

Below size threshold

Quality rankings require at least $50M annual revenue or $250M total assets to filter out micro-caps and shell companies. This company reported $16.1M in revenue.

Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.

LPCN Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Lipocine Inc. (LPCN), a Healthcare sector company. LPCN is not currently included in 13F Pro's AI-ranked quality universe — quality rankings require at least $50m annual revenue or $250m total assets to filter out micro-caps and shell companies. this company reported $16.1m in revenue. Based on the latest XBRL financial filings (Q1 2026), Lipocine Inc. reports quarterly revenue of $119.4K, net income of $-3.7M, free cash flow of $-2.3M. Top institutional holders of LPCN by reported 13-F value include Ikarian Capital,, Squadron Capital Management, Eversept Partners,, based on the most recent SEC filings. LPCN trades on the Nasdaq exchange and files with the SEC under CIK 1535955. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate LPCN daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Lipocine Inc. directly from SEC EDGAR.

Revenue

Q1 2026

$119.4K

Net Income

Q1 2026

$-3.7M

Free Cash Flow

Q1 2026

$-2.3M

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

-87.8% YoY

$2.0MFY 2025

FY19 $165.0KFY20 $0.00FY21 $16.1MFY25 $2.0M

Net Income

-1417.6% YoY

$-9.6MFY 2025

FY19 $-13.0MFY20 $-21.0MFY21 $-634.4KFY25 $-9.6M

Operating Income

-429.7% YoY

$-10.4MFY 2025

FY19 $-12.9MFY20 $-18.0MFY21 $3.1MFY25 $-10.4M

EPS (Diluted)

-16800.0% YoY

$-1.69FY 2025

FY19 $-0.50FY20 $-0.38FY21 $-0.01FY25 $-1.69

Total Assets

-67.6% YoY

$17.0MFY 2025

FY19 $19.7MFY20 $25.4MFY21 $52.5MFY25 $17.0M

Total Debt

—FY 2025

FY19 $10.0MFY20 $8.3MFY21 $4.0MFY25 —

Op. Cash Flow

-121.3% YoY

$-9.8MFY 2025

FY19 $-11.7MFY20 $-15.3MFY21 $-4.4MFY25 $-9.8M

Metric	FY 2025	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Revenue	$2.0M -87.8%	$16.1M	$0.00 -100.0%	$165.0K -61.5%	$428.0K	$0.00
Net Income	$-9.6M -1417.6%	$-634.4K +97.0%	$-21.0M -61.2%	$-13.0M -11.6%	$-11.7M +44.4%	$-21.0M
Operating Income	$-10.4M -429.7%	$3.1M +117.5%	$-18.0M -39.5%	$-12.9M -13.9%	$-11.3M +46.6%	$-21.2M
EPS (Diluted)	$-1.69 -16800.0%	$-0.01 +97.4%	$-0.38 +24.0%	$-0.50 +9.1%	$-0.55 +47.6%	$-1.05
Total Assets	$17.0M -67.6%	$52.5M +107.0%	$25.4M +29.0%	$19.7M -5.7%	$20.9M -17.7%	$25.3M
Total Debt	—	$4.0M -52.3%	$8.3M -16.7%	$10.0M -25.0%	$13.3M	$0.00
Operating Cash Flow	$-9.8M -121.3%	$-4.4M +71.2%	$-15.3M -31.2%	$-11.7M +3.4%	$-12.1M +27.7%	$-16.7M

AI Insight: LPCN Financial Trends

Lipocine shows lumpy revenue recognition with minimal commercial traction while burning through equity despite Q1 2026 balance sheet improvement.

• Revenue remains sporadic with only $5M total across 8 quarters, hitting $3M in Q4 2024 then declining.

• Operating losses persisted every quarter, worsening from -$2M in Q1 2025 to -$4M in Q1 2026.

• Equity declined from $21M in Q2 2024 to $14M in Q4 2025 before recovering to $23M in Q1 2026.

⚠ Operating cash flow turned more negative in Q3 2025 at -$3M, the worst level in the dataset.

⚠ Q1 2026 equity jump to $23M suggests potential financing event that warrants monitoring for dilution impact.

AI Insight: LPCN Ratio Trends

LPCN posted positive profitability in Q4 2024 but has since reverted to deep losses with ROIC deteriorating to -67.4% in Q1 2026.

• Operating margin turned positive at 44.3% in Q4 2024 after quarters of losses, then disappeared again.

• ROIC swung from +29.4% in Q4 2024 to -95.1% in Q3 2025, now at -67.4% in Q1 2026.

• ROE deteriorated from +34.0% in Q4 2024 to -64.3% in the latest quarter.

⚠ Sustainability of any future profitability given the brief Q4 2024 positive spike followed by extended losses.

⚠ Capital efficiency remains severely impaired with ROIC below -60% for most recent quarters.

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Available Research

13F Pro tracks comprehensive data for Lipocine Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of LPCN

Ikarian Capital, LLC
$4.1M508,556 sh
Squadron Capital Management LLC
$3.6M450,000 sh
Eversept Partners, LP
$2.4M294,989 sh
Rosalind Advisors, Inc.
$1.8M221,616 sh
VANGUARD CAPITAL MANAGEMENT LLC
$1.6M200,668 sh
AIGH Capital Management LLC
$1.6M200,000 sh
StemPoint Capital LP
$1.3M160,420 sh
BOOTHBAY FUND MANAGEMENT, LLC
$1.1M140,487 sh
Seven Fleet Capital Management LP
$998.3K124,942 sh
Birchview Capital, LP
$893.2K111,786 sh

Fund	Value	Shares
Ikarian Capital, LLC	$4.1M	508,556
Squadron Capital Management LLC	$3.6M	450,000
Eversept Partners, LP	$2.4M	294,989
Rosalind Advisors, Inc.	$1.8M	221,616
VANGUARD CAPITAL MANAGEMENT LLC	$1.6M	200,668
AIGH Capital Management LLC	$1.6M	200,000
StemPoint Capital LP	$1.3M	160,420
BOOTHBAY FUND MANAGEMENT, LLC	$1.1M	140,487
Seven Fleet Capital Management LP	$998.3K	124,942
Birchview Capital, LP	$893.2K	111,786

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Is LPCN a good stock to buy?

13F Pro's AI-powered analysis of Lipocine Inc. (LPCN) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for LPCN are available on the LPCN stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own LPCN?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling LPCN. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Lipocine Inc.'s investment landscape.