Short Interest in Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Declines By 19.3%


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Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 1,210,000 shares, a drop of 19.3% from the March 31st total of 1,500,000 shares. Currently, 12.3% of the shares of the company are sold short. Based on an average trading volume of 1,430,000 shares, the days-to-cover ratio is currently 0.8 days.

NASDAQ TTNP opened at $2.35 on Wednesday. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a market capitalization of $23.18 million, a price-to-earnings ratio of -0.31 and a beta of 0.98. The company’s fifty day moving average is $2.71 and its two-hundred day moving average is $3.38. Titan Pharmaceuticals has a 52-week low of $2.15 and a 52-week high of $14.06.

Titan Pharmaceuticals (NASDAQ:TTNP) last posted its quarterly earnings results on Tuesday, March 30th. The specialty pharmaceutical company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.33) by $0.47. Titan Pharmaceuticals had a negative net margin of 382.11% and a negative return on equity of 986.16%.

Separately, Maxim Group upgraded shares of Titan Pharmaceuticals from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Thursday, February 25th.

A hedge fund recently bought a new stake in Titan Pharmaceuticals stock. Koshinski Asset Management Inc. bought a new stake in shares of Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 4,011 shares of the specialty pharmaceutical company’s stock, valued at approximately $278,000. Koshinski Asset Management Inc. owned approximately 0.06% of Titan Pharmaceuticals as of its most recent filing with the SEC.

About Titan Pharmaceuticals

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 that focuses primarily on the treatment for chronic diseases. The company offers Probuphine implant for the maintenance treatment of opioid use disorder in clinically stable patients in Canada and the European Union.

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