Titan Pharmaceuticals (TTNP) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

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Titan Pharmaceuticals (NASDAQ:TTNP) issued its quarterly earnings data on Wednesday. The specialty pharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.08), Morningstar.com reports. Titan Pharmaceuticals had a negative return on equity of 355.20% and a negative net margin of 136.32%. The company had revenue of $0.95 million for the quarter.

TTNP stock traded down $0.17 during midday trading on Thursday, hitting $1.54. The stock had a trading volume of 3,734 shares, compared to its average volume of 955,499. The stock has a market capitalization of $22.92 million, a P/E ratio of -1.96 and a beta of 0.67. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.49 and a current ratio of 3.85. Titan Pharmaceuticals has a 12-month low of $1.03 and a 12-month high of $6.90.

Hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC grew its stake in Titan Pharmaceuticals by 530.0% in the 4th quarter. Virtu Financial LLC now owns 236,182 shares of the specialty pharmaceutical company’s stock worth $53,000 after acquiring an additional 198,693 shares during the period. Geode Capital Management LLC grew its stake in Titan Pharmaceuticals by 256.0% in the 4th quarter. Geode Capital Management LLC now owns 341,474 shares of the specialty pharmaceutical company’s stock worth $76,000 after acquiring an additional 245,565 shares during the period. Finally, Vanguard Group Inc grew its stake in Titan Pharmaceuticals by 12.7% in the 3rd quarter. Vanguard Group Inc now owns 432,337 shares of the specialty pharmaceutical company’s stock worth $90,000 after acquiring an additional 48,760 shares during the period. 23.94% of the stock is owned by hedge funds and other institutional investors.

Separately, ValuEngine upgraded Titan Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, February 2nd.

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About Titan Pharmaceuticals

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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Earnings History for Titan Pharmaceuticals (NASDAQ:TTNP)

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