Titan Pharmaceuticals (NASDAQ:TTNP) Cut to “Hold” at Maxim Group

Titan Pharmaceuticals (NASDAQ:TTNPGet Rating) was downgraded by equities research analysts at Maxim Group to a “hold” rating in a research report issued on Thursday, Stock Target Advisor reports.

Separately, StockNews.com assumed coverage on Titan Pharmaceuticals in a research report on Saturday, May 21st. They issued a “hold” rating on the stock.

Shares of TTNP opened at $0.38 on Thursday. The stock has a 50 day moving average price of $0.75 and a two-hundred day moving average price of $1.02. Titan Pharmaceuticals has a 52 week low of $0.35 and a 52 week high of $3.10.

An institutional investor recently raised its position in Titan Pharmaceuticals stock. Morgan Stanley grew its stake in shares of Titan Pharmaceuticals, Inc. (NASDAQ:TTNPGet Rating) by 1,058,500.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,790 shares of the specialty pharmaceutical company’s stock after buying an additional 158,775 shares during the quarter. Morgan Stanley owned 1.61% of Titan Pharmaceuticals worth $413,000 at the end of the most recent quarter. Institutional investors and hedge funds own 18.86% of the company’s stock.

Titan Pharmaceuticals Company Profile (Get Rating)

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 Canada and the European Union.

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