Titan Pharmaceuticals (NASDAQ:TTNP) Receives New Coverage from Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Titan Pharmaceuticals (NASDAQ:TTNP) in a research report issued on Monday. The firm set a “sell” rating on the specialty pharmaceutical company’s stock.

Titan Pharmaceuticals Price Performance

TTNP stock opened at $7.26 on Monday. The business has a 50 day moving average price of $7.33 and a two-hundred day moving average price of $7.23. The company has a market cap of $6.60 million, a price-to-earnings ratio of -0.89 and a beta of 1.33. Titan Pharmaceuticals has a twelve month low of $5.00 and a twelve month high of $16.60.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TTNP. Millennium Management LLC grew its stake in Titan Pharmaceuticals by 516.8% in the second quarter. Millennium Management LLC now owns 63,106 shares of the specialty pharmaceutical company’s stock valued at $35,000 after purchasing an additional 52,874 shares in the last quarter. Virtu Financial LLC bought a new position in Titan Pharmaceuticals in the second quarter valued at approximately $35,000. State Street Corp bought a new position in Titan Pharmaceuticals in the third quarter valued at approximately $41,000. Finally, Renaissance Technologies LLC lifted its position in shares of Titan Pharmaceuticals by 559.3% in the second quarter. Renaissance Technologies LLC now owns 240,710 shares of the specialty pharmaceutical company’s stock valued at $135,000 after buying an additional 204,200 shares during the last quarter. 31.49% of the stock is currently owned by institutional investors.

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. The company offers Probuphine implant for the maintenance treatment of opioid use disorder in clinically stable patients in the United States, Canada, and the European Union.