Titan Pharmaceuticals, Inc. (OTCMKTS:TTNP) was upgraded by TheStreet from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Shares of Titan Pharmaceuticals (OTCMKTS:TTNP) traded down 0.33% during mid-day trading on Thursday, hitting $5.96. The stock had a trading volume of 49,852 shares. The stock’s 50-day moving average price is $5.75 and its 200-day moving average price is $5.61. The stock has a market capitalization of $126.34 million and a price-to-earnings ratio of 20.14. Titan Pharmaceuticals has a 12-month low of $2.57 and a 12-month high of $8.74.

Titan Pharmaceuticals (OTCMKTS:TTNP) last announced its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. The business earned $15 million during the quarter, compared to analyst estimates of $15 million. On average, equities analysts anticipate that Titan Pharmaceuticals will post $0.25 EPS for the current fiscal year.

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In related news, CEO Sunil Bhonsle acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The stock was purchased at an average price of $4.96 per share, for a total transaction of $49,600.00. Following the transaction, the chief executive officer now directly owns 135,578 shares of the company’s stock, valued at approximately $672,466.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph A. Akers acquired 13,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 19th. The stock was bought at an average price of $4.85 per share, with a total value of $63,050.00. Following the transaction, the director now directly owns 8,000 shares in the company, valued at $38,800. The disclosure for this purchase can be found here.

About Titan Pharmaceuticals

Titan Pharmaceuticals, Inc (Titan) is a specialty pharmaceutical company. The Company is engaged in developing therapeutics for the treatment of medical disorders. The Company’s segment is engaged in the development of pharmaceutical products. The Company’s product development programs utilize its long-term drug delivery platform, ProNeura.

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