2001 Mitsubishi Galant possible defective cam sensor

code pulled: p0340 - I haven't personally looked at it in person but I have received some information. My sister told me when she accelerates she feels slipping and sometimes jerking. She feels it sputters and loss of power.The code above is what she got when the service engine light came on. She also said her car died in the middle of an intersection. There is a ticking noise. It also has been guzzling gas and has died after start up a few times. She would save it from dying by giving it more throttle. I'd really appreciate it if you could get back to me ASAP.

thanks a lot
-vettechick