Titan Pharmaceuticals (TTNP) Shares Gap Down to $0.29

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) gapped down prior to trading on Thursday . The stock had previously closed at $0.31, but opened at $0.29. Titan Pharmaceuticals shares last traded at $0.25, with a volume of 4923151 shares changing hands.

The company has a market cap of $22.89 million, a P/E ratio of -0.41 and a beta of -0.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.24 and a quick ratio of 4.65.

Titan Pharmaceuticals (NASDAQ:TTNP) last announced its quarterly earnings results on Wednesday, November 14th. The specialty pharmaceutical company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.03. The business had revenue of $1.65 million during the quarter, compared to analysts’ expectations of $0.10 million. Titan Pharmaceuticals had a negative return on equity of 878.37% and a negative net margin of 168.73%. Equities analysts anticipate that Titan Pharmaceuticals, Inc. will post -0.33 earnings per share for the current year.

In related news, Director James R. Mcnab bought 200,000 shares of Titan Pharmaceuticals stock in a transaction that occurred on Friday, September 21st. The stock was purchased at an average cost of $0.25 per share, for a total transaction of $50,000.00. Following the acquisition, the director now owns 300,000 shares in the company, valued at $75,000. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Marc Rubin bought 400,000 shares of Titan Pharmaceuticals stock in a transaction that occurred on Friday, September 21st. The stock was bought at an average price of $0.25 per share, with a total value of $100,000.00. Following the completion of the acquisition, the chairman now owns 556,317 shares in the company, valued at approximately $139,079.25. The disclosure for this purchase can be found here. In the last three months, insiders purchased 900,000 shares of company stock valued at $225,000. 19.50% of the stock is currently owned by company insiders.

A hedge fund recently bought a new stake in Titan Pharmaceuticals stock. Perkins Capital Management Inc. bought a new position in Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,200,000 shares of the specialty pharmaceutical company’s stock, valued at approximately $249,000. Perkins Capital Management Inc. owned about 5.66% of Titan Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. 5.66% of the stock is 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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