Titan Pharmaceuticals, Inc. (TTNP) Forecasted to Earn FY2019 Earnings of ($0.27) Per Share
Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) – Zacks Investment Research increased their FY2019 earnings per share estimates for Titan Pharmaceuticals in a report released on Wednesday. Zacks Investment Research analyst J. Vandermosten now anticipates that the specialty pharmaceutical company will post earnings per share of ($0.27) for the year, up from their prior estimate of ($0.44).
TTNP has been the topic of several other research reports. ValuEngine downgraded shares of Titan Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Roth Capital downgraded shares of Titan Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price objective for the company from $6.00 to $2.00 in a report on Friday, November 10th.
Titan Pharmaceuticals (NASDAQ:TTNP) last released its quarterly earnings results on Thursday, November 9th. The specialty pharmaceutical company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.04). The firm had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.17 million. Titan Pharmaceuticals had a negative net margin of 6,757.29% and a negative return on equity of 146.81%.
Several institutional investors and hedge funds have recently bought and sold shares of TTNP. Municipal Employees Retirement System of Michigan acquired a new position in shares of Titan Pharmaceuticals during the second quarter valued at about $576,000. LMR Partners LLP acquired a new position in shares of Titan Pharmaceuticals during the second quarter valued at about $105,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Titan Pharmaceuticals by 1.6% during the second quarter. Goldman Sachs Group Inc. now owns 102,503 shares of the specialty pharmaceutical company’s stock valued at $195,000 after acquiring an additional 1,570 shares in the last quarter. Hedge funds and other institutional investors own 8.89% of the company’s stock.
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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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