One of the few OTC listed tickers that has wall street analysts weighing in to issue opinions and price targets on, Titan Pharmaceuticals Inc. (TTNP), is heading into the month of March on another bull run. Two years ago displaced from their $2.53 share price, TTNP stock has been charging up the charts over the past month as shares of the specialty pharmaceutical company make their annual springtime run towards a new 52WK high. With the Phase III study for Probuphine® well underway, an re-submission this year with the FDA of their New Drug Application (NDA) could inject massive profits for those willing to hang on and wait again.
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TTNP Stock Quote / Chart
As history has proven to us, if ever there was a time of the year when you would want to buy and hold shares of Titan Pharmaceuticals, it’s now or never or actually maybe again next January. We first covered TTNP stock back in 2012 when shares were trading at 0.89 and shot up to $2.53 just five months later when Probuphine® iwas being tested for the treatment of opioid dependence.
Testing has continued to go on over the past three years and, in November, the Company completed enrollment in their ongoing Phase 3 study of Probuphine®. Titan expects that results from the randomized, double blind, double dummy designed clinical study of approximately 180 patients will get them the key information required to address the Complete Response Letter issued by the FDA in April 2013.
If all goes well, Titan is hoping to resubmit their NDA at some point this year when the study is complete and could expect to have Probuphine approved by the FDA in the first half of 2016. Titan is also involved with development activities relating to proprietary long-term drug delivery platform, ProNeura®, utilizing the compound ropinirole for the treatment of Parkinson’s disease which could move forward with the filing of an Investigational New Drug application around the same time as Probuphine could potentially be approved.
In recent months, 3 of wall streets analysts, Highline Research Advisors, Zacks and Roth Capital have weighed in on TTNP shares, issuing price targets of $3.00, $1.50 and $1.25, respectively. Should the Company’s ProNeura for Parkinson’s disease program go as planned and other key company milestones for 2015 get hit, TTNP shares could easily surpass two of those price targets.
If the chart is indicative of any kind of short-term pattern, TTNP stock should close red today based solely on how during the month of February, shares have seen a “red” close after a 5-6 day run of “green” closes. With price targets as low as $1.25, an easy double could be served up for those who have the stamina to wait and see what comes from the most recent attempt to prove Probuphine works.
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About TTNP Stock
Titan Pharmaceuticals, Inc. is a development stage biopharmaceutical company focused on developing proprietary therapeutics primarily for the treatment of serious medical disorders. The Company’s principal asset is Probuphine®, the first slow-release implant formulation of buprenorphine hydrochloride, designed to maintain a stable, round-the-clock blood level of the medicine in patients for up to six months following a single treatment.
400 Oyster Point Blvd.
South San Francisco, CA 94080
Issued and Outstanding: 109,997,533
Last 5 Trading Sessions:
TTNP is not a ticker weak handed flippers of penny stocks need be involved with. Having seen how TTNP shares have historically had their runs start up towards the end of each year and begin to really rally when February comes around, the volume could start to increase tremendously here now that we’re that much closer to an announcement about the Phase III study.
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