Why Titan Pharmaceuticals, Inc. (TTNP) Stock Tumbled -4.37% in Trade Today?

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) is a stock to watch today. At current price of $0.25, the shares have already lost -0.01 points (-4.37% lower) from its previous close of $0.26. The stock sets an active trading volume day with a reported 2068159 contracts so far this session. TTNP shares had a relatively better volume day versus average trading capacity of 10.39 million shares, but with a 66.3 million float and a 20.09% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TTNP stock indicates that the average analyst price target is $8.5 per share. This means the stock has a potential increase of 3300% from where the TTNP share price has been trading recently.

During the recent trading session for Titan Pharmaceuticals, Inc. (NASDAQ:TTNP), the company witnessed their stock drop by $-0.04 over a week and surge $0.09 from the price 20 days ago. When compared to their established 52-week high of $2.45, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/25/19. The recent low of $0.14 stood for a -89.73% since 11/22/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.29 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Titan Pharmaceuticals, Inc., the two-week RSI stands at 55.99. This figure suggests that TTNP stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current TTNP readings is similarly very revealing as it has a stochastic reading of 55.3% at this stage. This figure means that TTNP share price today is being neutral.

Technical chart claims that Titan Pharmaceuticals, Inc. (TTNP) would settle between $0.28/share to $0.3/share level. However, if the stock price goes below the $0.25 mark, then the market for Titan Pharmaceuticals, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.23 for its downside target.

Analysts at Maxim Group, assumed coverage of TTNP assigning Buy rating, according to their opinion released on June 26. ROTH Capital analysts have lowered their rating of Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) stock from Buy to Neutral in a separate flash note issued to investors on November 10.

TTNP equity has an average rating of 2.67, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Titan Pharmaceuticals, Inc. (TTNP)’s current-quarter revenues are projected to climb by nearly -25.6% to hit $920000, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -49.8% from $6.62 million to a noteworthy $3.32 million. At the other end of the current quarter income statement, Titan Pharmaceuticals, Inc. is expected to see its adjusted earnings surge by roughly 72.4% to hit $-0.08 per share. For the fiscal year, TTNP’s earnings are projected to climb by roughly 63% to hit $-0.71 per share.