Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) shares traded up 16% during trading on Friday . The company traded as high as $0.31 and last traded at $0.29. 6,348,298 shares were traded during mid-day trading, an increase of 128% from the average session volume of 2,780,616 shares. The stock had previously closed at $0.25.

The firm has a market cap of $22.89 million, a P/E ratio of -0.41 and a beta of -0.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.24 and a quick ratio of 4.65.

Titan Pharmaceuticals (NASDAQ:TTNP) last released its quarterly earnings data on Wednesday, November 14th. The specialty pharmaceutical company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. Titan Pharmaceuticals had a negative return on equity of 878.37% and a negative net margin of 168.73%. The business had revenue of $1.65 million for the quarter, compared to the consensus estimate of $0.10 million. Analysts expect that Titan Pharmaceuticals, Inc. will post -0.33 earnings per share for the current year.

In other news, Chairman Marc Rubin purchased 400,000 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The shares were purchased at an average price of $0.25 per share, for a total transaction of $100,000.00. Following the purchase, the chairman now directly owns 556,317 shares of the company’s stock, valued at approximately $139,079.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sunil Bhonsle purchased 300,000 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The shares were purchased at an average price of $0.25 per share, for a total transaction of $75,000.00. Following the purchase, the insider now directly owns 435,578 shares in the company, valued at $108,894.50. The disclosure for this purchase can be found here. In the last quarter, insiders bought 900,000 shares of company stock worth $225,000. Company insiders own 19.50% of the company’s stock.

An institutional investor recently bought a new position in Titan Pharmaceuticals stock. Perkins Capital Management Inc. purchased a new position in shares of Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,200,000 shares of the specialty pharmaceutical company’s stock, valued at approximately $249,000. Perkins Capital Management Inc. owned about 5.66% of Titan Pharmaceuticals as of its most recent SEC filing. 5.66% of the stock is owned by hedge funds and other institutional investors.

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Titan Pharmaceuticals Company Profile (NASDAQ:TTNP)

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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