Titan Pharmaceuticals (NASDAQ:TTNP) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Titan Pharmaceuticals (NASDAQ:TTNP) in a research note published on Monday morning. The firm issued a sell rating on the specialty pharmaceutical company’s stock.

Titan Pharmaceuticals Price Performance

NASDAQ:TTNP opened at $7.10 on Monday. The firm’s 50-day moving average price is $7.34 and its 200-day moving average price is $7.23. The company has a market capitalization of $6.46 million, a PE ratio of -0.87 and a beta of 1.33. Titan Pharmaceuticals has a 1-year low of $5.00 and a 1-year high of $16.60.

Institutional Trading of Titan Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp purchased a new stake in shares of Titan Pharmaceuticals during the 3rd quarter valued at about $41,000. Millennium Management LLC boosted its holdings in shares of Titan Pharmaceuticals by 516.8% during the 2nd 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 purchased a new stake in shares of Titan Pharmaceuticals during the 2nd quarter valued at about $35,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Titan Pharmaceuticals by 559.3% during the 2nd quarter. Renaissance Technologies LLC now owns 240,710 shares of the specialty pharmaceutical company’s stock valued at $135,000 after acquiring an additional 204,200 shares during the last quarter. Hedge funds and other institutional investors own 31.49% of the company’s stock.

Titan Pharmaceuticals Company Profile

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.