Titan Pharmaceuticals (TTNP) Trading Down 7.7%

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Titan Pharmaceuticals, Inc. (NASDAQ:TTNP)’s share price was down 7.7% during trading on Thursday . The company traded as low as $0.23 and last traded at $0.24. Approximately 1,199,966 shares were traded during trading, a decline of 26% from the average daily volume of 1,625,809 shares. The stock had previously closed at $0.26.

The company has a quick ratio of 4.65, a current ratio of 5.24 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $20.96 million, a P/E ratio of -0.34 and a beta of 0.48.

Titan Pharmaceuticals (NASDAQ:TTNP) last posted its quarterly earnings results on Wednesday, November 14th. The specialty pharmaceutical company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. Titan Pharmaceuticals had a negative return on equity of 878.37% and a negative net margin of 168.73%. The business had revenue of $1.65 million during the quarter, compared to analysts’ expectations of $0.10 million. Equities analysts expect that Titan Pharmaceuticals, Inc. will post -0.33 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Titan Pharmaceuticals stock. Vanguard Group Inc raised its position in shares of Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) by 12.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 432,337 shares of the specialty pharmaceutical company’s stock after acquiring an additional 48,760 shares during the period. Vanguard Group Inc owned approximately 0.55% of Titan Pharmaceuticals worth $90,000 at the end of the most recent quarter. Institutional investors and hedge funds own 5.66% of the company’s stock.

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About Titan Pharmaceuticals (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.

Further Reading: Outstanding Shares and The Effect on Share Price

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