Titan Pharmaceuticals (NASDAQ:TTNP) Now Covered by Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Titan Pharmaceuticals (NASDAQ:TTNP) in a research report issued on Monday. The brokerage set a “sell” rating on the specialty pharmaceutical company’s stock.

Titan Pharmaceuticals Stock Performance

Shares of TTNP opened at $0.48 on Monday. The stock’s 50-day moving average price is $0.57 and its two-hundred day moving average price is $0.72. Titan Pharmaceuticals has a 1 year low of $0.43 and a 1 year high of $1.50.

Titan Pharmaceuticals (NASDAQ:TTNP) last issued its quarterly earnings data on Monday, August 14th. The specialty pharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter. Titan Pharmaceuticals had a negative net margin of 2,137.63% and a negative return on equity of 949.26%. The firm had revenue of $0.08 million for the quarter.

Insider Buying and Selling

In other Titan Pharmaceuticals news, CEO David E. Lazar sold 3,388,902 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $1.23, for a total value of $4,168,349.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 27.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Titan Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in shares of Titan Pharmaceuticals in the 2nd quarter valued at about $35,000. Millennium Management LLC boosted its position in Titan Pharmaceuticals by 516.8% during the second quarter. Millennium Management LLC now owns 63,106 shares of the specialty pharmaceutical company’s stock valued at $35,000 after purchasing an additional 52,874 shares during the last quarter. State Street Corp bought a new position in Titan Pharmaceuticals in the third quarter valued at approximately $41,000. Finally, Renaissance Technologies LLC grew its stake in Titan Pharmaceuticals by 559.3% in the second quarter. Renaissance Technologies LLC now owns 240,710 shares of the specialty pharmaceutical company’s stock valued at $135,000 after purchasing an additional 204,200 shares in the last quarter. 31.49% of the stock is currently owned by institutional investors and hedge funds.

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.