Maxim Group downgraded shares of Titan Pharmaceuticals (NASDAQ:TTNP) from a buy rating to a hold rating in a research report released on Thursday, The Fly reports.
Separately, ValuEngine raised shares of Titan Pharmaceuticals from a sell rating to a hold rating in a research note on Thursday, August 1st.
Shares of NASDAQ TTNP opened at $0.47 on Thursday. Titan Pharmaceuticals has a 12-month low of $0.40 and a 12-month high of $5.04. The stock has a market cap of $6.25 million, a PE ratio of -0.60 and a beta of 0.99. The company has a current ratio of 1.27, a quick ratio of 1.86 and a debt-to-equity ratio of 1.18. The company has a 50-day moving average of $1.10 and a 200 day moving average of $1.47.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings 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 valued at $76,000 after purchasing an additional 245,565 shares during the last quarter. A.R.T. Advisors LLC boosted its holdings in Titan Pharmaceuticals by 164.7% in the 2nd quarter. A.R.T. Advisors LLC now owns 69,645 shares of the specialty pharmaceutical company’s stock valued at $89,000 after purchasing an additional 43,333 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Titan Pharmaceuticals by 23.0% in the 2nd quarter. Vanguard Group Inc. now owns 582,180 shares of the specialty pharmaceutical company’s stock valued at $746,000 after purchasing an additional 109,016 shares during the last quarter. 5.06% of the stock is owned by institutional investors.
Titan Pharmaceuticals Company Profile
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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