Timber Pharmaceuticals (NYSE:TMBR) Shares Up 11.6%

Timber Pharmaceuticals, Inc. (NYSE:TMBR – Get Rating) shares shot up 11.6% during trading on Friday . The company traded as high as $2.22 and last traded at $2.19. 30,063 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 195,790 shares. The stock had previously closed at $1.96.

Wall Street Analyst Weigh In

Separately, HC Wainwright reduced their price target on Timber Pharmaceuticals from $75.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th.

Timber Pharmaceuticals Price Performance

The business has a 50-day simple moving average of $1.64 and a 200 day simple moving average of $5.59. The firm has a market cap of $6.41 million, a PE ratio of -0.16 and a beta of -0.18.

Timber Pharmaceuticals (NYSE:TMBR – Get Rating) last issued its quarterly earnings results on Monday, November 14th. The company reported ($1.52) EPS for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.48. On average, equities analysts forecast that Timber Pharmaceuticals, Inc. will post -8.5 earnings per share for the current fiscal year.

Institutional Trading of Timber Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp purchased a new stake in shares of Timber Pharmaceuticals during the third quarter worth about $35,000. Renaissance Technologies LLC grew its position in shares of Timber Pharmaceuticals by 37.7% during the first quarter. Renaissance Technologies LLC now owns 871,237 shares of the company’s stock worth $335,000 after purchasing an additional 238,663 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Timber Pharmaceuticals by 251.7% during the third quarter. Vanguard Group Inc. now owns 4,124,900 shares of the company’s stock worth $495,000 after purchasing an additional 2,952,133 shares in the last quarter.

Timber Pharmaceuticals Company Profile

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Timber Pharmaceuticals LLC, a clinical-stage biopharmaceutical company, engages in the development and commercialization of treatments for orphan dermatologic diseases. The company's lead product candidates include TMB-001, a patented topical formulation of isotretinoin that has completed Phase 2b clinical trial for the treatment of moderate to severe subtypes of CI, a group of rare genetic keratinization disorders; and TMB-002, a proprietary topical formulation of rapamycin, which is in Phase 2b clinical trial for the treatment of facial angiofibroma in tuberous sclerosis complex, a multisystem genetic disorder resulting in the growth of hamartomas in multiple organs.