Maxim Group Thinks Titan Pharmaceuticals’ Stock is Going to Recover

Maxim Group analyst Jason McCarthy assigned a Buy rating to Titan Pharmaceuticals (TTNPResearch Report) yesterday and set a price target of $7.00. The company’s shares closed last Tuesday at $2.36, close to its 52-week low of $2.15.

According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 38.9% and a 47.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Brainstorm Cell Therapeutics, Lineage Cell Therapeutics, and Monopar Therapeutics Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Titan Pharmaceuticals with a $7.00 average price target.

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Based on Titan Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.06 million and GAAP net loss of $3.09 million. In comparison, last year the company earned revenue of $211K and had a GAAP net loss of $3.94 million.

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Titan Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in development of therapeutics for the treatment of medical disorders. Its products include Probuphine, Ropinirole Implant, and T3 Implant. The company was founded by Louis R. Bucalo in February 7, 1992 and is headquartered in South San Francisco, CA.