The Titan Pharmaceuticals, Inc. (TTNP) Raised to Hold at TheStreet

The Titan Pharmaceuticals, Inc. (TTNP) Raised to Hold at TheStreet

Titan Pharmaceuticals, Inc. (OTCMKTS:TTNP) was upgraded by TheStreet from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Shares of Titan Pharmaceuticals (OTCMKTS:TTNP) traded down 0.33% during mid-day trading on Thursday, hitting $5.96. The stock had a trading volume of 49,852 shares. The stock’s 50-day moving average price is $5.75 and its 200-day moving average price is $5.61. The stock has a market capitalization of $126.34 million and a price-to-earnings ratio of 20.14. Titan Pharmaceuticals has a 12-month low of $2.57 and a 12-month high of $8.74.

Titan Pharmaceuticals (OTCMKTS:TTNP) last announced its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. The business earned $15 million during the quarter, compared to analyst estimates of $15 million. On average, equities analysts anticipate that Titan Pharmaceuticals will post $0.25 EPS for the current fiscal year.

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In related news, CEO Sunil Bhonsle acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The stock was purchased at an average price of $4.96 per share, for a total transaction of $49,600.00. Following the transaction, the chief executive officer now directly owns 135,578 shares of the company’s stock, valued at approximately $672,466.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph A. Akers acquired 13,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 19th. The stock was bought at an average price of $4.85 per share, with a total value of $63,050.00. Following the transaction, the director now directly owns 8,000 shares in the company, valued at $38,800. The disclosure for this purchase can be found here.

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