Short Interest in Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Rises By 161.5%

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 10,200 shares, a growth of 161.5% from the March 31st total of 3,900 shares. Based on an average daily volume of 10,900 shares, the days-to-cover ratio is presently 0.9 days. Currently, 1.7% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Titan Pharmaceuticals in a research report on Tuesday. They issued a “sell” rating for the company.

Titan Pharmaceuticals Price Performance

TTNP traded up $0.12 during trading on Friday, reaching $7.09. 10,648 shares of the stock traded hands, compared to its average volume of 11,457. Titan Pharmaceuticals has a fifty-two week low of $5.00 and a fifty-two week high of $16.60. The stock’s 50-day simple moving average is $7.36 and its two-hundred day simple moving average is $7.16. The stock has a market cap of $6.45 million, a price-to-earnings ratio of -0.85 and a beta of 1.33.

About Titan Pharmaceuticals

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.