Titan Pharmaceuticals Still a Buy

| About: Titan Pharmaceuticals, (TTNP)

TTNP: Shares of Titan Pharmaceuticals traded to the upside on Tuesday after Vanda's (NASDAQ:VNDA) Fanapt licensing agreement with Novartis (NYSE:NVS) was announced on Monday.

Titan actually performed somewhat better than I expected and I still consider the stock a buy for below two dollars - for the short term - and I think that any buy for below three dollars is going to be a good one for the long term.

I won't rehash my reasons for making those price calls, but read my post from Monday if you're new to the situation.

Long term shareholders should let the profit takers leave - remember, many are still holding sub-five-cent shares - and as the time gets closer to the Fanapt launch, the TTNP stock price should catch up to its potential.

Also keep in mind that this is still a pink sheet stock and that scares away many investors and institutions.

My own personal speculation has me believing that if Titan is NOT looking to make a move to a major exchange as quickly as possible, then they must have reasons to believe that it's just not worth it. In my opinion, the only reason why it wouldn't be worth it right now would be because they know a buyout is close.

It only makes sense to push for the NASDAQ, or at least the AMEX again, if Titan is to remain a stand alone company.

If you're not in this stock yet, I think that you'll be alright buying it for below two dollars. If you're in - especially if you bought for mere pennies - there's nothing wrong with taking a little bit off the table now, but I do believe that this one is headed higher.

Disclosure: VFC is long TTNP.PK