Titan Pharmaceuticals, Inc. (OTCMKTS:TTNP) was upgraded by stock analysts at TheStreet from a “sell” rating to a “hold” rating in a report issued on Thursday.

Shares of Titan Pharmaceuticals (OTCMKTS:TTNP) traded down 0.33% during mid-day trading on Thursday, reaching $5.96. 49,852 shares of the company were exchanged. The firm has a market capitalization of $126.34 million and a price-to-earnings ratio of 20.14. The company’s 50-day moving average is $5.75 and its 200 day moving average is $5.61. 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 quarterly earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The business had revenue of $15 million for the quarter, compared to analyst estimates of $15 million. Analysts predict that Titan Pharmaceuticals will post $0.25 EPS for the current year.

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

Titan Pharmaceuticals Company Profile

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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