Titan Pharmaceuticals (NASDAQ:TTNP) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Titan Pharmaceuticals (NASDAQ:TTNP) in a research note issued to investors on Monday. The firm issued a sell rating on the specialty pharmaceutical company’s stock.

Titan Pharmaceuticals Price Performance

TTNP opened at $7.10 on Monday. Titan Pharmaceuticals has a fifty-two week low of $5.00 and a fifty-two week high of $16.60. The firm has a market capitalization of $6.46 million, a PE ratio of -0.87 and a beta of 1.33. The company’s 50-day moving average is $7.34 and its 200 day moving average is $7.23.

Institutional Investors Weigh In On Titan Pharmaceuticals

Several large investors have recently modified their holdings of TTNP. Virtu Financial LLC bought a new position in Titan Pharmaceuticals in the 2nd quarter valued at $35,000. Millennium Management LLC raised its position in shares of Titan Pharmaceuticals by 516.8% during the 2nd quarter. Millennium Management LLC now owns 63,106 shares of the specialty pharmaceutical company’s stock valued at $35,000 after buying an additional 52,874 shares in the last quarter. State Street Corp purchased a new position in Titan Pharmaceuticals in the 3rd quarter worth $41,000. Finally, Renaissance Technologies LLC raised its position in Titan Pharmaceuticals by 559.3% in the 2nd quarter. Renaissance Technologies LLC now owns 240,710 shares of the specialty pharmaceutical company’s stock worth $135,000 after purchasing an additional 204,200 shares during the period. Hedge funds and other institutional investors own 31.49% of the company’s stock.

About Titan Pharmaceuticals

Titan Pharmaceuticals, Inc, a pharmaceutical company, develops therapeutics for the treatment of chronic diseases. It develops products based on ProNeura, a proprietary long-term drug delivery platform. The company offers Probuphine implant for the maintenance treatment of opioid use disorder in clinically stable patients in the United States, Canada, and the European Union.