TipRanks | Jan 26, 2015 05:16AM ET
Titan Pharma Inc (OBB:TTNP) is a biomedical pharmaceutical company most known for its flagship drug, Probuphine, used to treat opioid addiction. Probuphine has proved to be effective in two clinical studies and one safety study. Titan is in the process of completing one more clinical study before receiving FDA approval, which is expected to be completed by mid-2015.
On January 20th, Roth Capital’s Scott Henry released a note launching coverage on Titan Pharmaceuticals with a Buy rating and a $1.25 price target. The analyst gave four driving reasons for the rating:
Looking forward, Scott Henry expects Probuphine to receive FDA approval in 2016. The analyst expects that Titan will achieve sustained profitability in 2018.
Scott Henry has a hit and miss record rating pharmaceutical companies. Overall, he has a 46% success rate recommending stocks with a +13.1% average return per recommendation. He has rated Redhill (NASDAQ:RDHL) 5 times since July, earning an 80% success rate recommending the stock and a +30.5% average return per RDHL recommendation. Likewise, Henry has rated ANI Pharmaceuticals(NASDAQ:ANIP) 8 times since February 2014, earning an 88% success rate recommending the stock and a 57.4% average return per ANIP recommendation.
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