Biofrontera (NASDAQ:BFRI) Raised to “Hold” at Zacks Investment Research

Biofrontera (NASDAQ:BFRI – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” 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 NASDAQ:BFRI traded down $0.05 during trading on Friday, hitting $2.69. The stock had a trading volume of 95,933 shares, compared to its average volume of 2,268,378. Biofrontera has a 12 month low of $2.20 and a 12 month high of $14.63. The firm’s fifty day moving average is $3.41 and its 200 day moving average is $4.21.

Biofrontera (NASDAQ:BFRI – Get Rating) last announced its earnings results on Friday, April 8th. The company reported ($0.42) earnings per share (EPS) for the quarter. The firm had revenue of $9.17 million during the quarter. On average, equities analysts forecast that Biofrontera will post -0.74 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of BFRI. Qube Research & Technologies Ltd bought a new position in Biofrontera during the 4th quarter valued at approximately $103,000. Geode Capital Management LLC bought a new position in Biofrontera during the 4th quarter valued at approximately $182,000. Susquehanna International Group LLP bought a new position in Biofrontera during the 4th quarter valued at approximately $384,000. BlackRock Inc. bought a new position in Biofrontera during the 4th quarter valued at approximately $76,000. Finally, XTX Topco Ltd bought a new position in Biofrontera during the 1st quarter valued at approximately $48,000. 4.10% of the stock is owned by institutional investors.

Biofrontera Company Profile (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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