Titan Pharmaceuticals (NASDAQ:TTNP) Trading 5.6% Higher

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) shares traded up 5.6% on Wednesday . The company traded as high as $0.19 and last traded at $0.19, 216,412 shares changed hands during trading. A decline of 95% from the average session volume of 3,993,137 shares. The stock had previously closed at $0.18.

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

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

Titan Pharmaceuticals (NASDAQ:TTNP) last issued its quarterly earnings results on Thursday, November 14th. The specialty pharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.03. The company had revenue of $0.95 million for the quarter, compared to analyst estimates of $1.00 million. Titan Pharmaceuticals had a negative net margin of 441.23% and a negative return on equity of 962.95%. Equities research analysts expect that Titan Pharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

An institutional investor recently raised its position in Titan Pharmaceuticals stock. A.R.T. Advisors LLC boosted its holdings in shares of Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) by 164.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,645 shares of the specialty pharmaceutical company’s stock after buying an additional 43,333 shares during the quarter. A.R.T. Advisors LLC owned 0.49% of Titan Pharmaceuticals worth $89,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.

See Also: Pattern Day Trader

Receive News & Ratings for Titan Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.