Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 654,400 shares, a decrease of 19.0% from the July 31st total of 808,200 shares. Based on an average daily trading volume, of 273,300 shares, the days-to-cover ratio is presently 2.4 days. Currently, 4.3% of the shares of the stock are sold short.
Several analysts have weighed in on the stock. ValuEngine raised shares of Titan Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Maxim Group cut shares of Titan Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.
Institutional investors have recently modified their holdings of the business. A.R.T. Advisors LLC grew its stake in Titan Pharmaceuticals by 164.7% during the second quarter. A.R.T. Advisors LLC now owns 69,645 shares of the specialty pharmaceutical company’s stock worth $89,000 after buying an additional 43,333 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Titan Pharmaceuticals by 256.0% during the fourth quarter. Geode Capital Management LLC now owns 341,474 shares of the specialty pharmaceutical company’s stock worth $76,000 after purchasing an additional 245,565 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Titan Pharmaceuticals by 23.0% during the second quarter. Vanguard Group Inc. now owns 582,180 shares of the specialty pharmaceutical company’s stock worth $746,000 after purchasing an additional 109,016 shares in the last quarter. 5.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Titan Pharmaceuticals stock opened at $0.40 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.96 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $6.77 million, a price-to-earnings ratio of -0.51 and a beta of 1.25. Titan Pharmaceuticals has a 1-year low of $0.40 and a 1-year high of $4.20. The firm’s 50-day moving average price is $0.68 and its two-hundred day moving average price is $1.32.
Titan Pharmaceuticals (NASDAQ:TTNP) last issued its quarterly earnings data on Wednesday, August 14th. The specialty pharmaceutical company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.21). The firm had revenue of $0.50 million for the quarter, compared to the consensus estimate of $1.30 million. Titan Pharmaceuticals had a negative return on equity of 412.65% and a negative net margin of 352.17%. As a group, equities research analysts predict that Titan Pharmaceuticals will post -1.04 EPS for the current year.
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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