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Why Titan Pharmaceuticals Is Soaring Today



Stock price movements

On January 31, 2019, Titan Pharmaceuticals (TTNP) issued a press release announcing a 20% rise in shipments of its Probuphine implant used to treat opioid use disorder. The positive update related to the performance of this implant after its commercial relaunch in the US in mid-June 2018, has impressed investors.

Since this news came out, Titan Pharmaceuticals stock has already risen 34.27% and is trading at $1.65 today. The company is currently trading at a premium of 60.03% to its 52-week low price of $1.03 and at an 80.34% discount to its 52-week high price of $8.40. The current market capitalization of Titan Pharmaceuticals is $95.91 million. The company is a micro-cap stock and may pose a higher risk as compared to the broader market or large and mid-cap stocks. The company is trading at a price-to-sales ratio of 17.63x and price-to-book ratio of 8.85x.

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Stock price returns and analysts’ recommendations

Based on its closing price on January 31, the company reported returns of -8.03% in the last week, -8.07% in the last month, and -45.58% in the last quarter. Titan Pharmaceuticals also reported returns of -77.51% in the last half year, -84.81% in the last year, and -8.07% YTD.

The 12-month target price for Titan Pharmaceuticals is $3.9, which is 136.36% higher than the company’s current trading price of $1.65. Only one analyst is currently covering the company and has rated Titan Pharmaceuticals as a “buy.”

Wall Street analysts expect Titan Pharmaceuticals to report revenues of $5.7 million, $4.7 million, and $13.60 million in fiscal 2018, fiscal 2019, and fiscal 2020, respectively.


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