StockNews.com assumed coverage on shares of Titan Pharmaceuticals (NASDAQ:TTNP – Free Report) in a research note issued to investors on Monday morning. The brokerage issued a sell rating on the specialty pharmaceutical company’s stock.
Titan Pharmaceuticals Stock Down 2.2 %
Shares of Titan Pharmaceuticals stock opened at $7.10 on Monday. The stock has a market capitalization of $6.46 million, a P/E ratio of -0.87 and a beta of 1.33. The stock has a 50 day moving average price of $7.34 and a two-hundred day moving average price of $7.23. Titan Pharmaceuticals has a 12-month low of $5.00 and a 12-month high of $16.60.
Institutional Investors Weigh In On Titan Pharmaceuticals
A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp bought a new stake in Titan Pharmaceuticals during the third quarter worth approximately $41,000. Millennium Management LLC boosted its position in shares of Titan Pharmaceuticals by 516.8% in the second quarter. Millennium Management LLC now owns 63,106 shares of the specialty pharmaceutical company’s stock valued at $35,000 after acquiring an additional 52,874 shares during the period. Virtu Financial LLC bought a new stake in shares of Titan Pharmaceuticals in the second quarter valued at approximately $35,000. Finally, Renaissance Technologies LLC boosted its position in shares of Titan Pharmaceuticals by 559.3% in the second quarter. Renaissance Technologies LLC now owns 240,710 shares of the specialty pharmaceutical company’s stock valued at $135,000 after acquiring an additional 204,200 shares during the period. Institutional investors own 31.49% of the company’s stock.
Titan Pharmaceuticals Company Profile
Titan Pharmaceuticals, Inc, a pharmaceutical company, develops therapeutics for the treatment of chronic diseases. It develops products based on ProNeura, a proprietary long-term drug delivery platform. The company offers Probuphine implant for the maintenance treatment of opioid use disorder in clinically stable patients in the United States, Canada, and the European Union.
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