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

Biofrontera Inc. (NASDAQ:BFRI) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 316,600 shares, a decrease of 30.7% from the October 31st total of 457,100 shares. Based on an average daily volume of 2,780,000 shares, the short-interest ratio is presently 0.1 days. Approximately 7.8% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Benchmark reissued a “buy” rating and issued a $7.00 price target on shares of Biofrontera in a research note on Friday, November 15th.

Biofrontera Stock Performance

Shares of NASDAQ:BFRI traded down $0.09 during mid-day trading on Friday, hitting $0.90. The stock had a trading volume of 449,557 shares, compared to its average volume of 1,042,479. The company has a market cap of $6.98 million, a PE ratio of -0.40 and a beta of 0.50. The company’s 50 day moving average is $0.94 and its 200-day moving average is $1.04. Biofrontera has a 12-month low of $0.61 and a 12-month high of $4.00.

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.