Biofrontera (NASDAQ:BFRI) Trading Down 5.6% – Here’s What Happened

Biofrontera Inc. (NASDAQ:BFRI)’s stock price traded down 5.6% during mid-day trading on Thursday . The stock traded as low as $0.8010 and last traded at $0.8379. 94,857 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 118,083 shares. The stock had previously closed at $0.8875.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Biofrontera in a report on Thursday, October 30th. Benchmark reaffirmed a “buy” rating on shares of Biofrontera in a research report on Friday, November 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Biofrontera has an average rating of “Hold” and a consensus price target of $2.75.

Biofrontera Stock Performance

The stock has a market capitalization of $9.76 million, a price-to-earnings ratio of -0.51 and a beta of 0.62. The business has a fifty day simple moving average of $0.82 and a 200 day simple moving average of $0.91.

Biofrontera (NASDAQ:BFRI) last posted its earnings results on Wednesday, November 12th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.01. Biofrontera had a negative return on equity of 1,104.09% and a negative net margin of 47.28%.The company had revenue of $6.99 million during the quarter, compared to the consensus estimate of $7.00 million. On average, sell-side analysts forecast that Biofrontera Inc. will post -3.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biofrontera

A hedge fund recently raised its stake in Biofrontera stock. Rosalind Advisors Inc. increased its stake in Biofrontera Inc. (NASDAQ:BFRI) by 51.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 976,448 shares of the company’s stock after purchasing an additional 332,055 shares during the period. Biofrontera makes up 0.3% of Rosalind Advisors Inc.’s holdings, making the stock its 27th biggest holding. Rosalind Advisors Inc. owned 9.63% of Biofrontera worth $695,000 as of its most recent filing with the SEC. 10.08% of the stock is owned by institutional investors.

About Biofrontera

Biofrontera AG is a specialty biopharmaceutical company focused on the research, development and commercialization of products for dermatological applications. The company’s core expertise lies in photodynamic therapy (PDT), a treatment modality that uses a photosensitizing agent activated by a specific light source to target diseased skin cells while sparing surrounding healthy tissue.

The flagship product in Biofrontera’s portfolio is Ameluz (aminolevulinic acid hydrochloride 10 % gel), which has received marketing approval in the European Union for treatment of actinic keratosis and basal cell carcinoma, and in the United States for actinic keratosis.