StockNews.com Begins Coverage on Titan Pharmaceuticals (NASDAQ:TTNP)

StockNews.com initiated coverage on shares of Titan Pharmaceuticals (NASDAQ:TTNP – Get Rating) in a research note published on Tuesday. The firm issued a sell rating on the specialty pharmaceutical company’s stock.

Titan Pharmaceuticals Stock Performance

Shares of Titan Pharmaceuticals stock opened at $0.75 on Tuesday. The firm has a fifty day moving average of $0.78 and a two-hundred day moving average of $0.86. Titan Pharmaceuticals has a one year low of $0.36 and a one year high of $1.59.

Institutional Investors Weigh In On Titan Pharmaceuticals

A number of institutional investors have recently bought and sold shares of TTNP. Renaissance Technologies LLC lifted its position in Titan Pharmaceuticals by 559.3% during the second quarter. Renaissance Technologies LLC now owns 240,710 shares of the specialty pharmaceutical company’s stock valued at $135,000 after buying an additional 204,200 shares in the last quarter. Virtu Financial LLC acquired a new stake in Titan Pharmaceuticals in the second quarter valued at $35,000. Millennium Management LLC increased its stake in Titan Pharmaceuticals by 516.8% during the second quarter. Millennium Management LLC now owns 63,106 shares of the specialty pharmaceutical company’s stock valued at $35,000 after purchasing an additional 52,874 shares during the last quarter. Finally, State Street Corp bought a new stake in Titan Pharmaceuticals during the third quarter valued at $41,000. 32.45% of the stock is currently owned by hedge funds and other institutional investors.

About Titan Pharmaceuticals

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Titan Pharmaceuticals, Inc engages in the development of therapeutics for the treatment of chronic diseases utilizing its long-term, continuous drug delivery platform, proNeura. Its lead product is probuphine, a buprenorphine implant for the maintenance treatment of opioid addiction. The company was founded by Louis R.