Titan Pharmaceuticals (NASDAQ:TTNP) Shares Gap Up to $0.18

Shares of Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) gapped up prior to trading on Tuesday . The stock had previously closed at $0.17, but opened at $0.18. Titan Pharmaceuticals shares last traded at $0.18, with a volume of 1,221,331 shares changing hands.

A number of research firms recently weighed in on TTNP. Maxim Group lowered shares of Titan Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. ValuEngine raised shares of Titan Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

The business’s fifty day moving average is $0.34 and its two-hundred day moving average is $1.03. The company has a quick ratio of 0.96, a current ratio of 1.27 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $2.99 million, a PE ratio of -0.24 and a beta of 1.18.

Titan Pharmaceuticals (NASDAQ:TTNP) last posted its earnings results on Wednesday, August 14th. The specialty pharmaceutical company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.21). Titan Pharmaceuticals had a negative net margin of 352.17% and a negative return on equity of 412.65%. The business had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $1.30 million. Sell-side analysts expect 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. A.R.T. Advisors LLC boosted its position in shares of Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) by 164.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,645 shares of the specialty pharmaceutical company’s stock after buying an additional 43,333 shares during the quarter. A.R.T. Advisors LLC owned 0.49% of Titan Pharmaceuticals worth $89,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 4.97% of the company’s stock.

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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