Biofrontera (NASDAQ:BFRI) Price Target Lowered to $2.75 at Benchmark

Biofrontera (NASDAQ:BFRI) had its price target reduced by Benchmark from $7.00 to $2.75 in a research note published on Monday,Benzinga reports. Benchmark currently has a buy rating on the stock.

Biofrontera Stock Performance

Shares of BFRI opened at $0.67 on Monday. The business has a 50-day moving average of $0.79 and a 200 day moving average of $0.94. Biofrontera has a fifty-two week low of $0.62 and a fifty-two week high of $2.22. The firm has a market cap of $6.33 million, a P/E ratio of -0.30 and a beta of 0.37.

Biofrontera (NASDAQ:BFRI) last issued its earnings results on Thursday, May 15th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.33). The company had revenue of $8.59 million during the quarter, compared to the consensus estimate of $10.55 million. Biofrontera had a negative return on equity of 565.73% and a negative net margin of 36.31%. As a group, research analysts predict that Biofrontera will post -3.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biofrontera

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in shares of Biofrontera during the fourth quarter valued at approximately $48,000. AIGH Capital Management LLC increased its stake in shares of Biofrontera by 61.8% during the fourth quarter. AIGH Capital Management LLC now owns 811,097 shares of the company’s stock valued at $884,000 after buying an additional 309,663 shares during the period. Finally, Rosalind Advisors Inc. increased its stake in shares of Biofrontera by 63.9% during the fourth quarter. Rosalind Advisors Inc. now owns 811,918 shares of the company’s stock valued at $885,000 after buying an additional 316,428 shares during the period. 10.08% of the stock is owned by hedge funds and other institutional investors.

About Biofrontera

Biofrontera Inc, a biopharmaceutical company, engages in the commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company's products are used for the treatment of actinic keratoses, which are pre-cancerous skin lesions, as well as impetigo, a bacterial skin infection.