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This Weeks Stock Pick

6-28-2010 STW Stock Recommendation TTNP

TTNP - Titan Pharmaceuticals

TTNP is one of those biotech’s that seems to go down every time it announces good news. These patient enough to weather the storms should be rewarded well and the current share price near a dollar is a great entry point. Not only does TTNP have several pipeline drugs in PII and PIII trials that should receive FDA approval in the next 2 years but they also have licensing agreement with major pharma and patients on other drugs that produce current income. At to that government funding and you have a rare low cost biotechnology- pharmaceutical stock that is both financially stable and has great upside plus a good likelihood of a strong buy out offer.

It was announced last Wednesday that the US Patent and Trademark Office granted Titan Pharmaceuticals patent protection for Probuphine until 2023. While the TM had been expected and did not impact the Share price of TTNP this news protects  the expected profits on the great potential of Probuphine which has shown to be safe and effective in several Phase III trials. The National Institutes of Health is providing up to $8 million in funding of the final trial that should be completed by mid 2011 in preparation for FDA submission and approval.

Titan currently earns royalties on the sales of Fanapt, a schizophrenia drug marketed by Novartis and developed by Vanda Pharmaceuticals under licensing agreements. These current quality pharmaceutical partners are also potential suitors for a buyout of TTNP which would bring a nice return to investors. 
The recent share price has been declining in spite of continuing good news and operations. We believe this is due to the negative bashing of one misguided biotech analyst and the TTNP is currently undervalued by at least 30%.

Business Summary
Titan Pharmaceuticals, Inc., together with its subsidiaries, operates as a biopharmaceutical company that develops proprietary therapeutics for the treatment of central nervous system disorders, cardiovascular disease, and bone disease. Its products include Probuphine, a Phase III clinical trial product for the treatment of opioid addiction; Iloperidone for the treatment of schizophrenia and related psychotic disorders; and Spheramine, a Phase IIb clinical trial product for the treatment of advanced Parkinson�s disease. The company also holds rights to diiodothyropropionic acid, a proprietary product for the treatment of cardiovascular disease; and gallium maltolate, an oral agent for the treatment of chronic bacterial infections, bone disease, and cancer. It has collaboration with Bayer Schering Pharma AG for the development of Spheramine to treat Parkinson�s disease; and with Vanda Pharmaceuticals, Inc. to develop iloperidone for the treatment of schizophrenia and related psychotic disorders. The company was founded in 1992 and is based in South San Francisco, California.

TTNP Stock Chart and Technical Analysis

Bollinger Bands
TTNP is trading within its Bollinger Bands. This is a normal condition and suggests that the stock is neither overbought nor oversold relative to the recent price action.


MACD
TTNP's MACD is currently indicating a weak bullish signal. Although the MACD is trending above the signal line, the indicator is still below 0, which suggests that the underlying moving averages are bearish.


Stochastics
The Stochastic Oscillator is registering a strong bullish signal as the %K has crossed above the %D and the oscillator recently moved above the critical value of 20 and is no longer oversold.


Directional Movement Index
The +DI line is above the -DI line and the ADX is greater than 20. This is a bullish signal that indicates the stock is in a confirmed uptrend.

 

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