Titan Pharmaceuticals (NASDAQ:TTNP) Stock Price Up 7.5%

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) shares rose 7.5% on Friday . The company traded as high as $0.50 and last traded at $0.47, approximately 611,966 shares changed hands during trading. A decline of 10% from the average daily volume of 677,678 shares. The stock had previously closed at $0.44.

TTNP has been the subject of a number of recent 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 cut shares of Titan Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday.

The business’s 50-day simple moving average is $1.10 and its two-hundred day simple moving average is $1.47. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.86 and a current ratio of 1.27.

Titan Pharmaceuticals (NASDAQ:TTNP) last announced its quarterly earnings results on Wednesday, August 14th. The specialty pharmaceutical company reported ($0.38) earnings per share 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 for the quarter, compared to analyst estimates of $1.30 million. Equities research analysts anticipate that Titan Pharmaceuticals, Inc. will post -0.68 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Titan Pharmaceuticals by 23.0% in the second quarter. Vanguard Group Inc. now owns 582,180 shares of the specialty pharmaceutical company’s stock valued at $746,000 after purchasing an additional 109,016 shares during the period. Geode Capital Management LLC boosted its stake in shares of Titan Pharmaceuticals by 256.0% in the fourth quarter. Geode Capital Management LLC now owns 341,474 shares of the specialty pharmaceutical company’s stock valued at $76,000 after purchasing an additional 245,565 shares during the period. Finally, A.R.T. Advisors LLC boosted its stake in shares of Titan Pharmaceuticals by 164.7% in the second quarter. A.R.T. Advisors LLC now owns 69,645 shares of the specialty pharmaceutical company’s stock valued at $89,000 after purchasing an additional 43,333 shares during the period. 5.06% of the stock is owned by institutional investors and hedge funds.

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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