Titan Pharmaceuticals (NASDAQ:TTNP) Announces Quarterly Earnings Results, Misses Expectations By $0.21 EPS

Titan Pharmaceuticals (NASDAQ:TTNP) issued its quarterly earnings data on Wednesday. The specialty pharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.21), Fidelity Earnings reports. The company had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $1.30 million. Titan Pharmaceuticals had a negative net margin of 168.23% and a negative return on equity of 311.18%.

NASDAQ:TTNP traded down $0.22 on Thursday, reaching $0.48. 13,616 shares of the company’s stock were exchanged, compared to its average volume of 184,976. The company has a quick ratio of 1.86, a current ratio of 2.12 and a debt-to-equity ratio of 1.18. The stock has a market cap of $9.98 million, a price-to-earnings ratio of -0.60 and a beta of 0.99. The business has a fifty day simple moving average of $1.13. Titan Pharmaceuticals has a 52-week low of $0.65 and a 52-week high of $5.34.

TTNP has been the topic of several research analyst reports. Maxim Group assumed coverage on shares of Titan Pharmaceuticals in a report on Wednesday, June 26th. They issued a “buy” rating and a $4.00 price objective on the stock. ValuEngine upgraded shares of Titan Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

Titan Pharmaceuticals Company Profile

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.

Read More: Price to Earnings Ratio (PE) Basics

Earnings History for Titan Pharmaceuticals (NASDAQ:TTNP)

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