Titan Pharmaceuticals (NASDAQ:TTNP) issued its earnings results on Wednesday. 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), Morningstar.com reports. Titan Pharmaceuticals had a negative net margin of 136.32% and a negative return on equity of 355.20%. The firm had revenue of $0.95 million during the quarter.
TTNP stock traded down $0.06 during midday trading on Thursday, reaching $1.58. 121,096 shares of the company were exchanged, compared to its average volume of 955,499. The company has a current ratio of 3.85, a quick ratio of 3.49 and a debt-to-equity ratio of 0.55. Titan Pharmaceuticals has a 1-year low of $1.03 and a 1-year high of $6.90. The stock has a market cap of $22.92 million, a P/E ratio of -2.00 and a beta of 0.67.
A number of hedge funds have recently added to or reduced their stakes in TTNP. Vanguard Group Inc raised its holdings in Titan Pharmaceuticals by 12.7% during the third quarter. Vanguard Group Inc now owns 432,337 shares of the specialty pharmaceutical company’s stock worth $90,000 after purchasing an additional 48,760 shares in the last quarter. Virtu Financial LLC raised its holdings in Titan Pharmaceuticals by 530.0% during the fourth quarter. Virtu Financial LLC now owns 236,182 shares of the specialty pharmaceutical company’s stock worth $53,000 after purchasing an additional 198,693 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Titan Pharmaceuticals by 256.0% during the fourth quarter. Geode Capital Management LLC now owns 341,474 shares of the specialty pharmaceutical company’s stock worth $76,000 after purchasing an additional 245,565 shares in the last quarter. 23.94% of the stock is currently owned by institutional investors.
Separately, ValuEngine raised shares of Titan Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, February 2nd.
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Titan Pharmaceuticals Company Profile
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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