Roth Capital Reiterates “Buy” Rating for Titan Pharmaceuticals, Inc. (TTNP)
Titan Pharmaceuticals, Inc. (OTCMKTS:TTNP)‘s stock had its “buy” rating reaffirmed by research analysts at Roth Capital in a note issued to investors on Thursday. They presently have a $6.00 price target on the specialty pharmaceutical company’s stock. Roth Capital’s price target would indicate a potential upside of 150.00% from the stock’s previous close.
Separately, ValuEngine cut shares of Titan Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st.
Shares of Titan Pharmaceuticals (OTCMKTS:TTNP) opened at 2.40 on Thursday. Titan Pharmaceuticals has a 12 month low of $1.30 and a 12 month high of $6.17. The company’s 50 day moving average is $1.69 and its 200 day moving average is $2.49. The company’s market cap is $50.89 million.
Titan Pharmaceuticals (OTCMKTS:TTNP) last posted its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported ($0.17) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.03). Titan Pharmaceuticals had a negative net margin of 4,481.82% and a negative return on equity of 152.57%. The firm had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.10 million. On average, equities research analysts predict that Titan Pharmaceuticals will post ($0.60) EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in Titan Pharmaceuticals by 1.6% during the second quarter. Goldman Sachs Group Inc. now owns 102,503 shares of the specialty pharmaceutical company’s stock valued at $195,000 after buying an additional 1,570 shares during the period. LMR Partners LLP acquired a new stake in Titan Pharmaceuticals during the second quarter valued at $105,000. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in Titan Pharmaceuticals during the second quarter valued at $576,000.
Titan Pharmaceuticals Company Profile
Titan Pharmaceuticals, Inc (Titan) is a specialty pharmaceutical company. The Company is engaged in developing therapeutics for the treatment of medical disorders. The Company’s segment is engaged in the development of pharmaceutical products. The Company’s product development programs utilize its long-term drug delivery platform, ProNeura.
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