Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Sees Significant Decline in Short Interest

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 7,600 shares, a drop of 20.8% from the March 15th total of 9,600 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 40,500 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Titan Pharmaceuticals in a research report on Friday. They set a “sell” rating on the stock.

Titan Pharmaceuticals Stock Down 3.3 %

Shares of NASDAQ:TTNP opened at $3.64 on Monday. The firm has a market capitalization of $3.32 million, a PE ratio of -0.70 and a beta of 1.27. The company has a 50-day moving average price of $3.76 and a two-hundred day moving average price of $3.79. Titan Pharmaceuticals has a twelve month low of $3.03 and a twelve month high of $14.80.

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

Titan Pharmaceuticals Company Profile

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.