Titan Pharmaceuticals (TTNP) Shares Down 6.9%

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) shares were down 6.9% during trading on Monday . The company traded as low as $1.60 and last traded at $1.62. Approximately 565,685 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 1,287,081 shares. The stock had previously closed at $1.74.

Separately, ValuEngine raised shares of Titan Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, February 2nd.

The company has a current ratio of 5.24, a quick ratio of 4.65 and a debt-to-equity ratio of 0.76. The firm has a market cap of $21.08 million, a P/E ratio of -0.38 and a beta of 0.52.

Titan Pharmaceuticals (NASDAQ:TTNP) last posted its quarterly earnings data on Wednesday, November 14th. The specialty pharmaceutical company reported ($0.66) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.84) by $0.18. Titan Pharmaceuticals had a negative net margin of 168.73% and a negative return on equity of 878.37%. The company had revenue of $1.65 million for the quarter, compared to analyst estimates of $0.10 million. As a group, equities analysts predict that Titan Pharmaceuticals, Inc. will post -1.98 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of TTNP. Perkins Capital Management Inc. purchased a new stake in Titan Pharmaceuticals in the 3rd quarter worth about $249,000. Vanguard Group Inc raised its position in Titan Pharmaceuticals by 12.7% in the 3rd quarter. Vanguard Group Inc now owns 432,337 shares of the specialty pharmaceutical company’s stock worth $90,000 after purchasing an additional 48,760 shares during the period. Virtu Financial LLC raised its position in Titan Pharmaceuticals by 530.0% in the 4th quarter. Virtu Financial LLC now owns 236,182 shares of the specialty pharmaceutical company’s stock worth $53,000 after purchasing an additional 198,693 shares during the period. Finally, Geode Capital Management LLC raised its position in Titan Pharmaceuticals by 256.0% in the 4th quarter. Geode Capital Management LLC now owns 341,474 shares of the specialty pharmaceutical company’s stock worth $76,000 after purchasing an additional 245,565 shares during the period. 35.49% of the stock is currently owned by institutional investors.

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About Titan Pharmaceuticals (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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