Short Interest in Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Drops By 24.8%

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) was the target of a large drop in short interest in July. As of July 15th, there was short interest totalling 8,800 shares, a drop of 24.8% from the June 30th total of 11,700 shares. Based on an average daily volume of 6,200 shares, the short-interest ratio is currently 1.4 days. Approximately 1.4% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Titan Pharmaceuticals in a research note on Sunday. They set a “sell” rating for the company.

Titan Pharmaceuticals Price Performance

Shares of TTNP opened at $5.54 on Friday. Titan Pharmaceuticals has a 1-year low of $4.24 and a 1-year high of $13.97. The firm has a 50 day simple moving average of $6.11 and a 200-day simple moving average of $6.65.

Titan Pharmaceuticals (NASDAQ:TTNP) last announced its earnings results on Wednesday, May 15th. The specialty pharmaceutical company reported ($1.24) earnings per share (EPS) for the quarter.

About Titan Pharmaceuticals

Titan Pharmaceuticals, Inc, a pharmaceutical company, develops therapeutics for the treatment of chronic diseases in the United States and internationally. It develops products based on ProNeura, a proprietary long-term drug delivery platform. It also develops TP-2021 in combination with ProNeura technology for the treatment of chronic pruritus, a severe and debilitating condition defined as itching of the skin lasting longer than six weeks; and Nalmefene implant program for the prevention of opioid relapse following detoxification of patients suffering opioid use disorder.