Titan Pharmaceuticals (NASDAQ:TTNP) Trading Down 13.6%

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) traded down 13.6% on Monday . The company traded as low as $0.35 and last traded at $0.38, 2,709,953 shares were traded during mid-day trading. An increase of 290% from the average session volume of 694,894 shares. The stock had previously closed at $0.44.

A number of equities analysts recently weighed in on the stock. ValuEngine upgraded shares of Titan Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Maxim Group lowered shares of Titan Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 15th.

The company has a market capitalization of $7.53 million, a PE ratio of -0.44 and a beta of 1.18. The business’s fifty day moving average is $0.38 and its two-hundred day moving average is $1.13. The company has a current ratio of 1.27, a quick ratio of 0.96 and a debt-to-equity ratio of 1.18.

Titan Pharmaceuticals (NASDAQ:TTNP) last announced its quarterly earnings data 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 return on equity of 412.65% and a negative net margin of 352.17%. The firm had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $1.30 million. As a group, equities research analysts anticipate that Titan Pharmaceuticals, Inc. will post -1.04 EPS for the current year.

An institutional investor recently raised its position 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 13F filing with the Securities and Exchange Commission. The firm owned 69,645 shares of the specialty pharmaceutical company’s stock after purchasing an additional 43,333 shares during the period. A.R.T. Advisors LLC owned approximately 0.49% of Titan Pharmaceuticals worth $89,000 at the end of the most recent quarter. 4.97% of the stock is owned by institutional investors.

Titan Pharmaceuticals Company Profile (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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