Titan Pharmaceuticals (TTNP) Shares Gap Down to $0.42

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Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) shares gapped down before the market opened on Thursday . The stock had previously closed at $0.43, but opened at $0.42. Titan Pharmaceuticals shares last traded at $0.41, with a volume of 5284439 shares.

The firm has a market capitalization of $9.12 million, a price-to-earnings ratio of -0.58 and a beta of -0.13.

Titan Pharmaceuticals (NASDAQ:TTNP) last announced its quarterly earnings data on Tuesday, August 14th. The specialty pharmaceutical company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.09. The business had revenue of $2.67 million for the quarter, compared to analyst estimates of $0.07 million. Titan Pharmaceuticals had a negative net margin of 295.69% and a negative return on equity of 1,659.34%. On average, sell-side analysts forecast that Titan Pharmaceuticals, Inc. will post -0.42 earnings per share for the current fiscal year.

In other Titan Pharmaceuticals news, Director James R. Mcnab purchased 200,000 shares of the business’s stock in a transaction that occurred on Friday, September 21st. The shares were purchased at an average price of $0.25 per share, for a total transaction of $50,000.00. Following the completion of the acquisition, the director now owns 300,000 shares of the company’s stock, valued at approximately $75,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Marc Rubin purchased 400,000 shares of the business’s stock in a transaction that occurred on Friday, September 21st. The stock was acquired at an average price of $0.25 per share, for a total transaction of $100,000.00. Following the acquisition, the chairman now directly owns 556,317 shares of the company’s stock, valued at approximately $139,079.25. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 900,000 shares of company stock worth $225,000. Insiders own 19.50% of the company’s stock.

An institutional investor recently bought a new position in Titan Pharmaceuticals stock. Perkins Capital Management Inc. purchased a new stake in Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,200,000 shares of the specialty pharmaceutical company’s stock, valued at approximately $249,000. Perkins Capital Management Inc. owned 5.66% of Titan Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. 12.17% of the stock is owned by hedge funds and other institutional investors.

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Titan Pharmaceuticals Company Profile (NASDAQ:TTNP)

Titan Pharmaceuticals, Inc, a pharmaceutical company, develops proprietary therapeutics for the treatment of serious medical disorders. It develops products based on ProNeura, a proprietary long-term drug delivery platform that focuses primarily on treatments for chronic diseases. The company offers Probuphine, a product candidate for maintenance treatment of opioid dependence, which maintains a stable, around the clock blood level of the drug buprenorphine in patients for six months following a single treatment.

See Also: Outstanding Shares

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