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

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

Wall Street Analyst Weigh In

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

Titan Pharmaceuticals Stock Down 4.9 %

Shares of TTNP opened at $3.68 on Monday. Titan Pharmaceuticals has a 52-week low of $3.03 and a 52-week high of $14.80. The stock has a fifty day simple moving average of $3.67 and a two-hundred day simple moving average of $3.98. The company has a market capitalization of $3.36 million, a PE ratio of -0.71 and a beta of 1.19.

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