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Biofrontera (NASDAQ:BFRI) stock is catching the eyes of investors on Wednesday following a bullish price prediction.
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Starting with the price prediction, Roth Capital analyst Jonathan Aschoff initiated coverage of BFRI stock with a buy rating and $20 price target. The analyst believes the stock is poised for growth thanks to its U.S. sales plans.
That new price prediction has BFRI stock seeing heavy trading today. That includes some 95 million shares of the stock changing hands as of this writing. That’s quite the jump compared to its daily average trading volume of about 1.7 million shares.
Keeping that in mind, let’s take a look at what potential BFRI stock investors need to know about the company below!
Biofrontera is a biopharmaceutical company with a focus on “the development and sale of dermatological drugs and medical cosmetics.”
The company’s lead product is the combination of Ameluz and BF-RhodoLED.
Ameluz is a topical prescription drug and BF-RhodoLED is a medical device.
Together, they are designed to treat patients suffering from ‘photodynamic therapy of certain superficial skin cancers and their precursors.”
Ameluz has been marketed in the EU since 2012 and the U.S. since 2016.
Other offerings from the company include impetigo treatment Xepi and dermocosmetics series Belixos.
Biofrontera was founded in 1997 by Dr. Hermann Lübbert, who currently serves as its CEO.
BFRI stock is up 102.7% as of Wednesday morning but is only up 20.6% since the start of the year.
There’s more stock market news for traders to dive into below!
InvestorPlace houses all the latest stock news you need to know about today. Among that is what’s happening with retail stocks, BIOLASE (NASDAQ:BIOL) soaring higher, and this morning’s pre-market stock movers. You can find all that info at the following links!
More Wednesday Stock Market News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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