Titan Pharmaceuticals (NASDAQ:TTNP) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Titan Pharmaceuticals (NASDAQ:TTNPGet Free Report) in a research report issued on Sunday. The brokerage set a “sell” rating on the specialty pharmaceutical company’s stock.

Titan Pharmaceuticals Stock Down 1.8 %

Shares of TTNP opened at $7.06 on Friday. The firm’s 50 day moving average is $6.33 and its 200-day moving average is $8.14. Titan Pharmaceuticals has a 12-month low of $5.00 and a 12-month high of $20.00.

Titan Pharmaceuticals (NASDAQ:TTNPGet Free Report) last released its earnings results on Tuesday, November 14th. The specialty pharmaceutical company reported ($0.40) earnings per share for the quarter. Titan Pharmaceuticals had a negative return on equity of 302.61% and a negative net margin of 2,021.31%.

Institutional Trading of Titan Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its holdings in shares of Titan Pharmaceuticals by 559.3% during the second quarter. Renaissance Technologies LLC now owns 240,710 shares of the specialty pharmaceutical company’s stock worth $135,000 after purchasing an additional 204,200 shares during the period. Millennium Management LLC lifted 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 acquiring an additional 52,874 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Titan Pharmaceuticals during the 2nd quarter worth $35,000. Finally, State Street Corp acquired a new stake in shares of Titan Pharmaceuticals in the 3rd quarter valued at $41,000. 31.49% of the stock is currently owned by institutional investors and hedge funds.

About Titan Pharmaceuticals

(Get Free Report)

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.

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