Benchmark Reiterates “Buy” Rating for Biofrontera (NASDAQ:BFRI)

Biofrontera (NASDAQ:BFRI)‘s stock had its “buy” rating reiterated by Benchmark in a report issued on Friday, Benzinga reports. They presently have a $7.00 price target on the stock. Benchmark’s target price suggests a potential upside of 464.47% from the stock’s current price.

Biofrontera Price Performance

Biofrontera stock traded up $0.08 during mid-day trading on Friday, hitting $1.24. 19,314 shares of the company’s stock traded hands, compared to its average volume of 360,003. Biofrontera has a fifty-two week low of $0.61 and a fifty-two week high of $9.70. The stock has a market cap of $6.31 million, a price-to-earnings ratio of -0.09 and a beta of 0.46. The firm has a 50 day simple moving average of $1.04 and a two-hundred day simple moving average of $1.21.

Biofrontera (NASDAQ:BFRI) last posted its earnings results on Wednesday, May 15th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.22). Biofrontera had a negative return on equity of 1,390.99% and a negative net margin of 69.44%. The firm had revenue of $7.91 million for the quarter, compared to analyst estimates of $11.52 million. On average, research analysts anticipate that Biofrontera will post -3.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biofrontera

An institutional investor recently bought a new position in Biofrontera stock. Rosalind Advisors Inc. purchased a new stake in Biofrontera Inc. (NASDAQ:BFRI) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 504,261 shares of the company’s stock, valued at approximately $777,000. Biofrontera accounts for about 0.7% of Rosalind Advisors Inc.’s holdings, making the stock its 27th biggest holding. Rosalind Advisors Inc. owned 9.91% of Biofrontera as of its most recent SEC filing. 10.08% of the stock is currently owned by 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.