Titan Pharmaceuticals (NASDAQ:TTNP) Stock Price Up 3.8%

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP)’s share price rose 3.8% during mid-day trading on Monday . The stock traded as high as $0.19 and last traded at $0.18, approximately 13,865,445 shares traded hands during trading. An increase of 1,118% from the average daily volume of 1,138,306 shares. The stock had previously closed at $0.17.

TTNP has been the subject of several research analyst reports. ValuEngine upgraded shares of Titan Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Maxim Group lowered shares of Titan Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th.

The firm has a market capitalization of $2.99 million, a P/E ratio of -0.23 and a beta of 1.18. 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 firm’s 50-day simple moving average is $0.34 and its 200-day simple moving average is $1.04.

Titan Pharmaceuticals (NASDAQ:TTNP) last announced its earnings results on Wednesday, August 14th. The specialty pharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $0.50 million for the quarter, compared to the consensus estimate of $1.30 million. As a group, analysts expect that Titan Pharmaceuticals, Inc. will post -1.04 EPS for the current fiscal year.

A hedge fund recently raised its stake in Titan Pharmaceuticals stock. A.R.T. Advisors LLC raised its stake in shares of Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) by 164.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,645 shares of the specialty pharmaceutical company’s stock after purchasing 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 and Exchange Commission (SEC). 4.97% of the stock is currently owned by institutional investors.

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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