Short Interest in Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Drops By 25.0%

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) was the target of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 9,600 shares, a decline of 25.0% from the February 28th total of 12,800 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily volume of 44,100 shares, the days-to-cover ratio is presently 0.2 days.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Titan Pharmaceuticals in a research note on Tuesday, March 25th. They issued a “sell” rating for the company.

Titan Pharmaceuticals Price Performance

NASDAQ TTNP opened at $3.68 on Friday. The business’s fifty day moving average is $3.67 and its 200-day moving average is $4.00. The stock has a market capitalization of $3.36 million, a price-to-earnings ratio of -0.71 and a beta of 1.19. Titan Pharmaceuticals has a one year low of $3.03 and a one year high of $14.80.

Titan Pharmaceuticals (NASDAQ:TTNP) last announced its quarterly earnings data on Thursday, March 20th. The specialty pharmaceutical company reported ($0.85) 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.