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

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

Titan Pharmaceuticals Stock Up 1.4 %

TTNP opened at $7.26 on Monday. The stock’s 50 day moving average price is $7.27 and its two-hundred day moving average price is $7.26. Titan Pharmaceuticals has a 12-month low of $5.00 and a 12-month high of $16.60.

Institutional Trading of Titan Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC grew its holdings in shares of Titan Pharmaceuticals by 559.3% during 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 in the last quarter. Millennium Management LLC grew its holdings 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 worth $35,000 after purchasing an additional 52,874 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Titan Pharmaceuticals during the 2nd quarter worth approximately $35,000. Finally, State Street Corp acquired a new stake in shares of Titan Pharmaceuticals during the 3rd quarter worth approximately $41,000. Institutional investors and hedge funds own 31.49% of the company’s stock.

Titan Pharmaceuticals Company Profile

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.