Titan Pharmaceuticals (NASDAQ:TTNP) Shares Gap Up to $0.17

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP)’s share price gapped up before the market opened on Friday . The stock had previously closed at $0.16, but opened at $0.17. Titan Pharmaceuticals shares last traded at $0.19, with a volume of 8,706,557 shares trading hands.

Separately, Maxim Group reiterated a “buy” rating and set a $1.00 price target on shares of Titan Pharmaceuticals in a research note on Friday, November 15th.

The company has a debt-to-equity ratio of 1.18, a current ratio of 1.13 and a quick ratio of 0.76. The stock has a market cap of $10.33 million, a price-to-earnings ratio of -0.24 and a beta of 1.09. The stock has a fifty day moving average of $0.17 and a 200 day moving average of $0.70.

Titan Pharmaceuticals (NASDAQ:TTNP) last issued its earnings results on Thursday, November 14th. The specialty pharmaceutical company reported ($0.18) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.03. Titan Pharmaceuticals had a negative return on equity of 962.95% and a negative net margin of 441.23%. The firm had revenue of $0.95 million for the quarter, compared to analyst estimates of $1.00 million. As a group, equities analysts expect that Titan Pharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Titan Pharmaceuticals stock. Vanguard Group Inc. grew its holdings in Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) by 23.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 582,180 shares of the specialty pharmaceutical company’s stock after acquiring an additional 109,016 shares during the period. Vanguard Group Inc. owned about 4.08% of Titan Pharmaceuticals worth $746,000 at the end of the most recent quarter. 1.43% of the stock is currently 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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