Titan Pharmaceuticals (NASDAQ:TTNP) Stock Price Down 9.5%

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP)’s share price was down 9.5% during mid-day trading on Thursday . The company traded as low as $0.19 and last traded at $0.19, approximately 12,739,800 shares changed hands during mid-day trading. An increase of 779% from the average daily volume of 1,448,721 shares. The stock had previously closed at $0.21.

A number of equities research analysts recently issued reports on TTNP shares. Maxim Group upgraded shares of Titan Pharmaceuticals from a “hold” rating to a “buy” rating and set a $1.00 target price for the company in a report on Wednesday. ValuEngine upgraded 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 $0.33 and its 200-day moving average is $1.01. The stock has a market capitalization of $3.17 million, a PE ratio of -0.24 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.

Titan Pharmaceuticals (NASDAQ:TTNP) last released its earnings results on Wednesday, August 14th. The specialty pharmaceutical company reported ($0.38) earnings per share (EPS) 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 company had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $1.30 million. As a group, sell-side analysts anticipate 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 boosted its stake in Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) by 164.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm 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 about 0.49% of Titan Pharmaceuticals worth $89,000 as of its most recent filing with the SEC. 4.97% of the stock is 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.

Read More: What is required to own or exchange cryptocurrency?

Receive News & Ratings for Titan Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.