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Biofrontera: forecast is adjusted

In the second quarter, sales from product sales at Biofrontera fell by 52 percent to EUR 3.3 million. In the United States, sales are down 57 percent, in Germany sales are down 4 percent. A one-time payment from Maruho of over 6 million euros ultimately increases sales by more than 35 percent to 9.6 million euros. In the first half of the year, sales increased by around 15 percent to EUR 16.0 million to EUR 16.2 million. For the year as a whole, Biofrontera is aiming for a value of between EUR 34 million and EUR 38 million.

The SMC Research analysts had previously expected sales of EUR 26.4 million. They increase their estimate to 30.7 million euros. In their view, the possible corona consequences in the USA prevent a higher forecast.

The price target for Biofrontera shares increases from EUR 5.20 to EUR 5.30. As before, there is a recommendation to hold the title. One wants to wait with a new rating until a clear revival of business dynamics can be seen. In addition, the planned capital increase is to be placed first.

Biofrontera shares today gain 3.4 percent to € 2,915.

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