Titan Pharmaceuticals (NASDAQ:TTNP) Now Covered by Analysts at Maxim Group

Research analysts at Maxim Group began coverage on shares of Titan Pharmaceuticals (NASDAQ:TTNP) in a research report issued to clients and investors on Wednesday, June 26th, MarketBeat reports. The firm set a “buy” rating and a $4.00 price target on the specialty pharmaceutical company’s stock. Maxim Group’s price target points to a potential upside of 233.33% from the stock’s previous close.

Shares of NASDAQ:TTNP traded down $0.02 on Wednesday, reaching $1.20. The company had a trading volume of 129,334 shares, compared to its average volume of 742,614. Titan Pharmaceuticals has a 52-week low of $1.03 and a 52-week high of $5.94. The business has a 50 day moving average of $1.31. The firm has a market capitalization of $16.38 million, a price-to-earnings ratio of -1.52 and a beta of 1.00. The company has a quick ratio of 1.86, a current ratio of 2.12 and a debt-to-equity ratio of 1.18.

Titan Pharmaceuticals (NASDAQ:TTNP) last announced its earnings results on Wednesday, May 15th. The specialty pharmaceutical company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.08). The business had revenue of $0.95 million for the quarter. Titan Pharmaceuticals had a negative return on equity of 311.18% and a negative net margin of 168.23%. As a group, equities analysts expect 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 lifted its holdings in shares of Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) by 256.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 341,474 shares of the specialty pharmaceutical company’s stock after buying 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 hedge funds and other institutional investors.

About Titan Pharmaceuticals

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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