Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) shares gapped down before the market opened on Friday . The stock had previously closed at $0.42, but opened at $0.40. Titan Pharmaceuticals shares last traded at $0.39, with a volume of 5383756 shares changing hands.
The stock has a market cap of $8.20 million, a price-to-earnings ratio of -0.55 and a beta of -0.13. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.24 and a quick ratio of 1.21.
Titan Pharmaceuticals (NASDAQ:TTNP) last issued its quarterly earnings data on Wednesday, November 14th. The specialty pharmaceutical company reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.03. The firm had revenue of $1.65 million during the quarter, compared to analyst estimates of $0.10 million. Titan Pharmaceuticals had a negative return on equity of 878.37% and a negative net margin of 168.73%. As a group, analysts forecast that Titan Pharmaceuticals, Inc. will post -0.42 earnings per share for the current fiscal year.
In other Titan Pharmaceuticals news, Chairman Marc Rubin purchased 400,000 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was purchased at an average price of $0.25 per share, with a total value of $100,000.00. Following the acquisition, the chairman now owns 556,317 shares in the company, valued at $139,079.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sunil Bhonsle purchased 300,000 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was acquired at an average cost of $0.25 per share, with a total value of $75,000.00. Following the acquisition, the insider now owns 435,578 shares in the company, valued at approximately $108,894.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 900,000 shares of company stock valued at $225,000. Company insiders own 19.50% of the company’s stock.
A hedge fund recently bought a new stake in Titan Pharmaceuticals stock. Perkins Capital Management Inc. purchased a new stake in Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,200,000 shares of the specialty pharmaceutical company’s stock, valued at approximately $249,000. Perkins Capital Management Inc. owned about 5.66% of Titan Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 12.25% of the company’s stock.
WARNING: This news story was first reported by Macon Daily and is the property of of Macon Daily. If you are reading this news story on another site, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The correct version of this news story can be viewed at https://macondaily.com/2018/11/18/titan-pharmaceuticals-ttnp-shares-gap-down-to-0-40.html.
About Titan Pharmaceuticals (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.
Featured Article: Insider Trading – What You Need to Know
Receive News & Ratings for Titan Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.