Titan Pharmaceuticals (NASDAQ:TTNP) Shares Pass Below 200-Day Moving Average of $0.34

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.34 and traded as low as $0.26. Titan Pharmaceuticals shares last traded at $0.29, with a volume of 35,334,668 shares traded.

Separately, Maxim Group reissued a “buy” rating and issued a $1.00 price objective on shares of Titan Pharmaceuticals in a research report on Friday, November 15th.

The firm has a market capitalization of $17.28 million, a PE ratio of -0.16 and a beta of 1.19. The stock’s 50-day moving average price is $0.26 and its 200 day moving average price is $0.33.

Titan Pharmaceuticals (NASDAQ:TTNP) last issued its earnings results on Thursday, November 14th. The specialty pharmaceutical company reported ($0.18) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.03. The business had revenue of $0.95 million for the quarter, compared to analyst estimates of $1.00 million. Titan Pharmaceuticals had a negative net margin of 441.23% and a negative return on equity of 962.95%. Analysts forecast that Titan Pharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Titan Pharmaceuticals by 23.0% during the second quarter. Vanguard Group Inc. now owns 582,180 shares of the specialty pharmaceutical company’s stock worth $746,000 after acquiring an additional 109,016 shares during the period. Virtu Financial LLC increased its position in shares of Titan Pharmaceuticals by 1,403.8% during the fourth quarter. Virtu Financial LLC now owns 520,912 shares of the specialty pharmaceutical company’s stock worth $101,000 after acquiring an additional 486,272 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Titan Pharmaceuticals during the fourth quarter worth approximately $62,000. 1.47% of the stock is currently owned by institutional investors and hedge funds.

Titan Pharmaceuticals Company Profile (NASDAQ:TTNP)

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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