Biofrontera Inc. (NASDAQ:BFRI) Sees Large Decline in Short Interest

Biofrontera Inc. (NASDAQ:BFRI) saw a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 141,320 shares, a decrease of 43.9% from the January 15th total of 251,788 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 108,670 shares, the days-to-cover ratio is currently 1.3 days. Based on an average daily trading volume, of 108,670 shares, the days-to-cover ratio is currently 1.3 days. Currently, 1.3% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed 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 report on Friday, November 14th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.75.

Hedge Funds Weigh In On Biofrontera

A number of large investors have recently bought and sold shares of BFRI. Rosalind Advisors Inc. raised its holdings in shares of Biofrontera by 16.8% in the 3rd quarter. Rosalind Advisors Inc. now owns 1,140,764 shares of the company’s stock worth $1,124,000 after purchasing an additional 164,316 shares during the period. AIGH Capital Management LLC raised its holdings in Biofrontera by 7.3% in the third quarter. AIGH Capital Management LLC now owns 1,046,050 shares of the company’s stock valued at $1,030,000 after buying an additional 71,525 shares during the period. Finally, Geode Capital Management LLC grew its stake in Biofrontera by 54.2% during the fourth quarter. Geode Capital Management LLC now owns 65,677 shares of the company’s stock worth $37,000 after buying an additional 23,074 shares during the period. Hedge funds and other institutional investors own 10.08% of the company’s stock.

Biofrontera Trading Down 1.3%

Shares of Biofrontera stock traded down $0.01 during mid-day trading on Friday, hitting $0.78. 112,884 shares of the stock were exchanged, compared to its average volume of 840,276. The stock has a market capitalization of $9.09 million, a price-to-earnings ratio of -0.48 and a beta of 0.62. Biofrontera has a twelve month low of $0.54 and a twelve month high of $1.19. The company has a 50-day simple moving average of $0.81 and a 200 day simple moving average of $0.89.

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

Biofrontera Company Profile

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.