Truist Bank recently announced the acquisition of new stake in Titan Pharmaceuticals Inc. (NASDAQ:TTNP). This fresh investment now brings its stake to 4.27% valued currently at $0.49 million. In addition, The Vanguard Group, Inc. raised its holdings by 9151.0 to 81924.0 shares. And Geode Capital Management LLC has lifted its position by 2.79% or 1739.0 shares – to 64092.0 shares.
With over 75054.0 Titan Pharmaceuticals Inc. (TTNP) shares trading Tuesday and a closing price of $0.98 on the day, the dollar volume was approximately $73552.92. The shares have shown a negative half year performance of -22.94% and its price on 01/24/23 gained nearly 11.09%. Currently, there are 14.63M common shares owned by the public and among those 10.88M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for TTNP have a consensus price objective of $7.00. The analysts have set the share’s price value over the next 12 months at a high of $7.00 and a low of $7.00. But an upside of 86.0% will see the stock hit the forecast high price target while median target price for the stock is $7.00.
Insiders at the company have transacted a total of 2 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 2 of these insider trades were purchases, accounting for 366,942 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Titan Pharmaceuticals Inc. are Vanguard Extended Market Index Fu, Fidelity Extended Market Index Fu, and Fidelity Nasdaq Composite Index F. Vanguard Extended Market Index Fu owns 82051.0 shares of the company’s stock, all valued at over $64246.0. The company bought an additional 127.0 shares recently to bring their total holdings to about 0.56% of the shares outstanding. Fidelity Nasdaq Composite Index F now owns shares totaling to 0.13% of the shares outstanding.
Shares of Titan Pharmaceuticals Inc. (NASDAQ: TTNP) opened at $0.8856, up $0.01 from a prior closing price of $0.88. However, the script later moved the day high at 0.9962, up 11.09%. The company’s stock has a 5-day price change of 7.55% and 0.37% over the past three months. TTNP shares are trading 24.98% year to date (YTD), with the 12-month market performance up to 5.28% higher. It has a 12-month low price of $0.35 and touched a high of $1.59 over the same period. TTNP has an average intraday trading volume of 35.55K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 14.07%, 9.56%, and 2.71% respectively.
Institutional ownership of Titan Pharmaceuticals Inc. (NASDAQ: TTNP) shares accounts for 10.60% of the company’s 14.63M shares outstanding. Mutual fund holders own 0.97%, while other institutional holders and individual stakeholders account for 6.04% and 0.39% respectively.
It has a market capitalization of $13.89M and a beta (3y monthly) value of 1.05. The earnings-per-share (ttm) stands at -$0.85. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.98% over the week and 9.24% over the month.
Analysts forecast that Titan Pharmaceuticals Inc. (TTNP) will achieve an EPS of $0 for the current quarter, -$0.24 for the next quarter and -$0.91 for 2022. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.86 a year ago.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Titan Pharmaceuticals Inc. (TTNP) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TTNP, a number of firms have released research notes about the stock. Maxim Group stated their Buy rating for the stock in a research note on June 26, 2019, with the firm’s price target at $4.
