Titan Pharmaceuticals Inc (TTNP)

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Titan Pharmaceuticals Stock Rating Reaffirmed by Zacks (TTNP)
Posted by Nolan Pearson on Aug 15th, 2014

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Zachs restated their outperform rating on shares of Titan Pharmaceuticals (NASDAQ:TTNP) in a report released on Thursday. Zacks currently has a $1.50 price objective on the stock.

Zacks’ analyst wrote, “On August 14, 2014, Titan Pharmaceuticals, Inc. announced results for the second quarter of 2014. Revenues were $0.9 million and resulted from the amortization of upfront payments from Braeburn Pharmaceuticals. Net loss for the quarter was $0.8 million, or $0.01 per share. Importantly, during the second quarter the company initiated the confirmatory Phase 3 study to support the resubmission of the NDA for Probuphine. The study is expected to be completed by mid-2015. We continue to believe Probuphine will eventually receive U.S. approval, now forecasted to occur during the first half of 2016. We are maintaining our Buy rating and $1.50 price target, which is roughly 125% upside from today’s price. “

Zacks has also modified their ratings on a number of other stocks in the few days. The firm downgraded shares of StarTek, Inc. from a neutral rating to an underperform rating. Their analysts now have a $6.60 price target on that stock. Also, Zacks reiterated its neutral rating on shares of SAP AG. They have a $81.00 price target on that stock. Finally, Zacks downgraded shares of Nokia Co. (ADR) from an outperform rating to a neutral rating. Their analysts now have a $8.25 price target on that stock.

Separately, analysts at Highline Research Advisors initiated coverage on shares of Titan Pharmaceuticals in a research note on Monday, July 7th. They set a buy rating and a $3.00 price target on the stock.

Shares of Titan Pharmaceuticals (NASDAQ:TTNP) opened at 0.675 on Thursday. Titan Pharmaceuticals has a 1-year low of $0.53 and a 1-year high of $1.27. The stock’s 50-day moving average is $0.76 and its 200-day moving average is $0.69. The company has a market cap of $60.1 million and a price-to-earnings ratio of 689.00.

Titan Pharmaceuticals (NASDAQ:TTNP) last announced its earnings results on Wednesday, August 13th. The company reported ($0.01) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.02) by $0.01. Analysts expect that Titan Pharmaceuticals will post $-0.05 EPS for the current fiscal year.

Titan Pharmaceuticals, Inc is a biopharmaceutical company developing proprietary therapeutics primarily for the treatment of central nervous system (NASDAQ:TTNP) disorders.




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