Fintel reports that on August 28, 2023, HC Wainwright & Co. downgraded their outlook for Timber Pharmaceuticals (AMEX:TMBR) from Buy to Neutral.
Analyst Price Forecast Suggests 270.30% Upside
As of August 2, 2023, the average one-year price target for Timber Pharmaceuticals is 11.22. The forecasts range from a low of 11.11 to a high of $11.55. The average price target represents an increase of 270.30% from its latest reported closing price of 3.03.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Timber Pharmaceuticals is 1MM, an increase of ?%. The projected annual non-GAAP EPS is -4.59.
What is the Fund Sentiment?
There are 12 funds or institutions reporting positions in Timber Pharmaceuticals. This is a decrease of 9 owner(s) or 42.86% in the last quarter. Average portfolio weight of all funds dedicated to TMBR is 0.00%, a decrease of 81.12%. Total shares owned by institutions decreased in the last three months by 48.63% to 129K shares.
What are Other Shareholders Doing?
VEXMX – Vanguard Extended Market Index Fund Investor Shares holds 39K shares representing 1.25% ownership of the company. In it’s prior filing, the firm reported owning 9K shares, representing an increase of 75.76%. The firm increased its portfolio allocation in TMBR by 278.77% over the last quarter.
Citadel Advisors holds 33K shares representing 1.08% ownership of the company. In it’s prior filing, the firm reported owning 94K shares, representing a decrease of 184.60%. The firm decreased its portfolio allocation in TMBR by 45.60% over the last quarter.
Geode Capital Management holds 20K shares representing 0.64% ownership of the company. No change in the last quarter.
FSMAX – Fidelity Extended Market Index Fund holds 14K shares representing 0.45% ownership of the company. In it’s prior filing, the firm reported owning 14K shares, representing a decrease of 1.50%. The firm decreased its portfolio allocation in TMBR by 46.11% over the last quarter.
FCFMX – Fidelity Series Total Market Index Fund holds 5K shares representing 0.17% ownership of the company. No change in the last quarter.
Timber Pharmaceuticals Background Information
(This description is provided by the company.)
Timber Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of treatments for rare and orphan dermatologic diseases. The Company’s investigational therapies have proven mechanisms-of-action backed by decades of clinical experience and well-established CMC (chemistry, manufacturing and control) and safety profiles. The Company is initially focused on developing non-systemic treatments for rare dermatologic diseases including congenital ichthyosis (CI), facial angiofibromas (FAs) in tuberous sclerosis complex (TSC), and scleroderma.
This article originally appeared on Fintel
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