Titan Pharmaceuticals (NASDAQ:TTNP) Issues Quarterly Earnings Results

Titan Pharmaceuticals (NASDAQ:TTNP) posted its quarterly earnings results on Wednesday. The specialty pharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.21), Fidelity Earnings reports. Titan Pharmaceuticals had a negative return on equity of 311.18% and a negative net margin of 168.23%. The business had revenue of $0.50 million during the quarter, compared to analyst estimates of $1.30 million.

Shares of TTNP stock traded down $0.22 during trading hours on Thursday, reaching $0.48. 13,616 shares of the company were exchanged, compared to its average volume of 184,976. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.86 and a current ratio of 2.12. The firm has a market cap of $9.98 million, a P/E ratio of -0.62 and a beta of 0.99. The business has a fifty day moving average price of $1.13. Titan Pharmaceuticals has a fifty-two week low of $0.65 and a fifty-two week high of $5.34.

A number of brokerages have issued reports on TTNP. ValuEngine raised shares of Titan Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Maxim Group initiated coverage on shares of Titan Pharmaceuticals in a report on Wednesday, June 26th. They set a “buy” rating and a $4.00 price objective on the stock.

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.

See Also: What Does a Sell-Side Analyst Rating Mean?

Earnings History for Titan Pharmaceuticals (NASDAQ:TTNP)

Receive News & Ratings for Titan Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.