Titan Pharmaceuticals (NASDAQ:TTNP) Trading Down 10.9%

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP)’s stock price fell 10.9% during trading on Tuesday . The stock traded as low as $3.15 and last traded at $3.35. 1,379,039 shares were traded during mid-day trading, a decline of 42% from the average session volume of 2,358,718 shares. The stock had previously closed at $3.76.

Separately, Maxim Group upgraded shares of Titan Pharmaceuticals from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Thursday, February 18th.

The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 2.14. The company’s 50 day moving average is $3.46 and its 200 day moving average is $4.62. The firm has a market capitalization of $23.92 million, a price-to-earnings ratio of -0.44 and a beta of 0.98.

A hedge fund recently bought a new stake in Titan Pharmaceuticals stock. Koshinski Asset Management Inc. acquired a new position in shares of Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,011 shares of the specialty pharmaceutical company’s stock, valued at approximately $278,000. Koshinski Asset Management Inc. owned approximately 0.06% of Titan Pharmaceuticals as of its most recent SEC filing.

About Titan Pharmaceuticals (NASDAQ:TTNP)

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 that focuses primarily on the treatment for chronic diseases. The company also develops ProNeura-Ropinirole, an implant to provide delivery of ropinirole, a dopamine agonist for the treatment of Parkinson's disease; and triiodothyronine, an implant for the treatment of hypothyroidism.

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