Biofrontera (NASDAQ:BFRI) Downgraded by Zacks Investment Research

Biofrontera (NASDAQ:BFRIGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Biofrontera Inc. is a biopharmaceutical company commercializing a portfolio of pharmaceutical products for the treatment of dermatological conditions with a focus on the fields of photodynamic therapy and topical antibiotics. The Company’s licensed products focus on the treatment of actinic keratoses, which are pre-cancerous skin lesions, as well as impetigo, a bacterial skin infection. Biofrontera Inc. is based in WOBURN, MA. “

Shares of BFRI stock traded up $0.07 during mid-day trading on Friday, reaching $2.94. 106,907 shares of the company were exchanged, compared to its average volume of 2,353,697. The business’s 50 day simple moving average is $3.43 and its 200 day simple moving average is $4.23. Biofrontera has a fifty-two week low of $2.20 and a fifty-two week high of $14.63.

Biofrontera (NASDAQ:BFRIGet Rating) last released its quarterly earnings data on Friday, April 8th. The company reported ($0.42) EPS for the quarter. The business had revenue of $9.17 million for the quarter. On average, research analysts predict that Biofrontera will post -0.72 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of BFRI. BlackRock Inc. raised its position in Biofrontera by 894.0% in the first quarter. BlackRock Inc. now owns 100,505 shares of the company’s stock worth $335,000 after acquiring an additional 90,394 shares in the last quarter. Susquehanna International Group LLP purchased a new position in Biofrontera during the 4th quarter valued at about $384,000. Geode Capital Management LLC purchased a new position in Biofrontera during the 4th quarter valued at about $182,000. State Street Corp purchased a new position in Biofrontera during the 1st quarter valued at about $49,000. Finally, XTX Topco Ltd purchased a new position in Biofrontera during the 1st quarter valued at about $48,000. Institutional investors and hedge funds own 4.10% of the company’s stock.

About Biofrontera (Get Rating)

Biofrontera Inc, a biopharmaceutical company, engages in the commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company offers Ameluz, which is a prescription drug approved for use in combination with the company's licensor's medical device; and the RhodoLED lamp series for photodynamic therapy for the lesion-directed and field-directed treatment of actinic keratosis of mild-to-moderate severity on the face and scalp.

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