Titan Pharmaceuticals, Inc. (TTNP) Rating Lowered to Neutral at Roth Capital

Titan Pharmaceuticals, Inc. (OTCMKTS:TTNP) was downgraded by stock analysts at Roth Capital from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday. They presently have a $2.00 price objective on the specialty pharmaceutical company’s stock, down from their previous price objective of $6.00. Roth Capital’s price target indicates a potential upside of 25.00% from the stock’s current price.

Separately, ValuEngine cut shares of Titan Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st.

Titan Pharmaceuticals (TTNP) opened at $1.60 on Friday. Titan Pharmaceuticals has a 12 month low of $1.30 and a 12 month high of $4.80.

Titan Pharmaceuticals (OTCMKTS:TTNP) last posted its quarterly earnings results on Thursday, November 9th. The specialty pharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The company had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.17 million. Titan Pharmaceuticals had a negative return on equity of 152.57% and a negative net margin of 4,481.82%.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan acquired a new position in shares of Titan Pharmaceuticals in the second quarter valued at $576,000. LMR Partners LLP bought a new stake in Titan Pharmaceuticals during the second quarter worth about $105,000. Finally, Goldman Sachs Group Inc. lifted its position in Titan Pharmaceuticals by 1.6% during the second quarter. Goldman Sachs Group Inc. now owns 102,503 shares of the specialty pharmaceutical company’s stock worth $195,000 after purchasing an additional 1,570 shares during the period.

Titan Pharmaceuticals Company Profile

Titan Pharmaceuticals, Inc (Titan) is a specialty pharmaceutical company. The Company is engaged in developing therapeutics for the treatment of medical disorders. The Company’s segment is engaged in the development of pharmaceutical products. The Company’s product development programs utilize its long-term drug delivery platform, ProNeura.

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