Titan Pharmaceuticals (NASDAQ:TTNP) Trading Down 6.3%

Shares of Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) dropped 6.3% during mid-day trading on Monday . The company traded as low as $0.16 and last traded at $0.15, approximately 71,877 shares were traded during trading. A decline of 99% from the average daily volume of 9,057,484 shares. The stock had previously closed at $0.16.

TTNP has been the subject of a number of research analyst reports. Maxim Group reiterated a “buy” rating and set a $1.00 price objective on shares of Titan Pharmaceuticals in a research report on Friday. ValuEngine upgraded shares of Titan Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

The stock’s 50-day moving average is $0.24 and its 200-day moving average is $0.86. The firm has a market capitalization of $10.68 million, a price-to-earnings ratio of -0.20 and a beta of 1.15. The company has a current ratio of 1.27, a quick ratio of 0.96 and a debt-to-equity ratio of 1.18.

Titan Pharmaceuticals (NASDAQ:TTNP) last released its quarterly earnings data on Thursday, November 14th. The specialty pharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.03. The business had revenue of $0.95 million during the quarter, compared to analysts’ expectations of $1.00 million. Titan Pharmaceuticals had a negative net margin of 441.23% and a negative return on equity of 515.97%. On average, equities research analysts anticipate that Titan Pharmaceuticals, Inc. will post -1.04 EPS for the current fiscal year.

An institutional investor recently raised its position in Titan Pharmaceuticals stock. Vanguard Group Inc. raised its holdings in Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) by 23.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 582,180 shares of the specialty pharmaceutical company’s stock after acquiring an additional 109,016 shares during the quarter. Vanguard Group Inc. owned approximately 4.08% of Titan Pharmaceuticals worth $746,000 as of its most recent SEC filing. 1.51% of the stock is owned by institutional investors and hedge funds.

Titan Pharmaceuticals Company Profile (NASDAQ:TTNP)

Titan Pharmaceuticals, Inc, a pharmaceutical company, develops proprietary therapeutics for the treatment of serious medical disorders. It develops products based on ProNeura, a proprietary long-term drug delivery platform that focuses primarily on treatments for chronic diseases. The company offers Probuphine, a product candidate for maintenance treatment of opioid dependence, which maintains a stable, around the clock blood level of the drug buprenorphine in patients for six months following a single treatment.

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