Titan Pharmaceuticals, Inc. (TTNP) Announces Earnings Results, Misses Estimates By $0.03 EPS
Titan Pharmaceuticals, Inc. (OTCMKTS:TTNP) posted its quarterly earnings results on Wednesday. The specialty pharmaceutical company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.03, Bloomberg Earnings reports. Titan Pharmaceuticals had a negative return on equity of 101.29% and a negative net margin of 7,512.50%. The business had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.10 million.
Shares of Titan Pharmaceuticals (TTNP) traded up 6.45% during midday trading on Thursday, hitting $1.65. The stock had a trading volume of 99,278 shares. Titan Pharmaceuticals has a 52 week low of $1.45 and a 52 week high of $6.40. The stock’s 50-day moving average price is $1.94 and its 200 day moving average price is $2.87. The company has a market cap of $34.98 million and a price-to-earnings ratio of 13.10.
An institutional investor recently bought a new position in Titan Pharmaceuticals stock. Municipal Employees Retirement System of Michigan acquired a new stake in Titan Pharmaceuticals, Inc. (OTCMKTS:TTNP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 303,300 shares of the specialty pharmaceutical company’s stock, valued at approximately $576,000. Municipal Employees Retirement System of Michigan owned about 1.43% of Titan Pharmaceuticals as of its most recent SEC filing.
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Separately, Roth Capital set a $6.00 price objective on Titan Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday.
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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