Titan Pharmaceuticals (NASDAQ:TTNP) Coverage Initiated at StockNews.com

Research analysts at StockNews.com started coverage on shares of Titan Pharmaceuticals (NASDAQ:TTNP) in a research report issued on Monday. The firm set a “sell” rating on the specialty pharmaceutical company’s stock.

Titan Pharmaceuticals Price Performance

Shares of TTNP stock opened at $7.26 on Monday. Titan Pharmaceuticals has a 12 month low of $5.00 and a 12 month high of $16.60. The firm has a market cap of $6.60 million, a PE ratio of -0.89 and a beta of 1.33. The stock has a 50 day moving average of $7.33 and a 200-day moving average of $7.23.

Institutional Trading of Titan Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp bought a new stake in shares of Titan Pharmaceuticals during the third quarter valued at approximately $41,000. Millennium Management LLC increased its position in shares of Titan Pharmaceuticals by 516.8% during the second quarter. Millennium Management LLC now owns 63,106 shares of the specialty pharmaceutical company’s stock valued at $35,000 after purchasing an additional 52,874 shares during the period. Virtu Financial LLC bought a new stake in shares of Titan Pharmaceuticals during the second quarter valued at approximately $35,000. Finally, Renaissance Technologies LLC increased its position in shares of Titan Pharmaceuticals by 559.3% during the second quarter. Renaissance Technologies LLC now owns 240,710 shares of the specialty pharmaceutical company’s stock valued at $135,000 after purchasing an additional 204,200 shares during the period. 31.49% of the stock is currently owned by institutional investors.

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.