Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Sees Large Increase in Short Interest

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 23,500 shares, an increase of 58.8% from the January 15th total of 14,800 shares. Currently, 3.6% of the company’s stock are short sold. Based on an average trading volume of 28,500 shares, the short-interest ratio is presently 0.8 days.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Titan Pharmaceuticals in a report on Thursday. They set a “sell” rating for the company.

Titan Pharmaceuticals Trading Down 0.9 %

Shares of NASDAQ:TTNP traded down $0.04 during midday trading on Thursday, hitting $4.10. The company’s stock had a trading volume of 22,696 shares, compared to its average volume of 38,499. Titan Pharmaceuticals has a fifty-two week low of $3.03 and a fifty-two week high of $14.80. The stock’s 50 day simple moving average is $3.45 and its 200 day simple moving average is $4.51.

Titan Pharmaceuticals (NASDAQ:TTNP) last released its quarterly earnings data on Friday, January 3rd. The specialty pharmaceutical company reported ($0.83) earnings per share for the quarter.

Titan Pharmaceuticals Company Profile

Titan Pharmaceuticals, Inc, a pharmaceutical company, develops therapeutics for the treatment of chronic diseases in the United States and internationally. It develops products based on ProNeura, a proprietary long-term drug delivery platform. It also develops TP-2021 in combination with ProNeura technology for the treatment of chronic pruritus, a severe and debilitating condition defined as itching of the skin lasting longer than six weeks; and Nalmefene implant program for the prevention of opioid relapse following detoxification of patients suffering opioid use disorder.