Titan Pharmaceuticals (NASDAQ:TTNP) Upgraded at ValuEngine

ValuEngine upgraded shares of Titan Pharmaceuticals (NASDAQ:TTNP) from a sell rating to a hold rating in a research note released on Thursday, ValuEngine reports.

Separately, Maxim Group initiated coverage on Titan Pharmaceuticals in a research note on Wednesday, June 26th. They issued a buy rating and a $4.00 price target for the company.

Shares of TTNP stock traded down $0.05 during trading on Thursday, hitting $1.08. The company had a trading volume of 16,587 shares, compared to its average volume of 165,095. The company has a quick ratio of 1.86, a current ratio of 2.12 and a debt-to-equity ratio of 1.18. The company has a market cap of $15.27 million, a price-to-earnings ratio of -1.37 and a beta of 1.00. The stock’s 50-day simple moving average is $1.28. Titan Pharmaceuticals has a one year low of $1.03 and a one year high of $5.64.

Titan Pharmaceuticals (NASDAQ:TTNP) last issued its quarterly earnings results on Wednesday, May 15th. The specialty pharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The company had revenue of $0.95 million during the quarter. Titan Pharmaceuticals had a negative net margin of 168.23% and a negative return on equity of 311.18%. On average, analysts predict that Titan Pharmaceuticals will post -0.68 EPS for the current year.

An institutional investor recently raised its position in Titan Pharmaceuticals stock. Geode Capital Management LLC boosted its holdings in shares of Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) by 256.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 341,474 shares of the specialty pharmaceutical company’s stock after purchasing an additional 245,565 shares during the period. Geode Capital Management LLC owned about 2.63% of Titan Pharmaceuticals worth $76,000 at the end of the most recent quarter. 5.06% of the stock is owned by institutional investors.

Titan Pharmaceuticals Company Profile

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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