Titan Pharmaceuticals (NASDAQ:TTNP) Stock Price Up 5.6%

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP)’s share price rose 5.6% during trading on Wednesday . The company traded as high as $0.19 and last traded at $0.19, approximately 216,412 shares traded hands during mid-day trading. A decline of 95% from the average daily volume of 3,993,137 shares. The stock had previously closed at $0.18.

Separately, Maxim Group reaffirmed a “buy” rating and issued a $1.00 target price on shares of Titan Pharmaceuticals in a report on Friday, November 15th.

The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.76 and a current ratio of 1.13. The company has a market capitalization of $8.72 million, a PE ratio of -0.24 and a beta of 1.09. The company’s 50-day simple moving average is $0.17 and its 200-day simple moving average is $0.72.

Titan Pharmaceuticals (NASDAQ:TTNP) last announced its earnings results on Thursday, November 14th. The specialty pharmaceutical company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. Titan Pharmaceuticals had a negative net margin of 441.23% and a negative return on equity of 962.95%. The business had revenue of $0.95 million during the quarter, compared to analysts’ expectations of $1.00 million. Analysts expect that Titan Pharmaceuticals, Inc. will post -0.72 EPS for the current 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% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,645 shares of the specialty pharmaceutical company’s stock after acquiring an additional 43,333 shares during the period. A.R.T. Advisors LLC owned 0.49% of Titan Pharmaceuticals worth $89,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 1.43% of the company’s stock.

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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