UPDATE: Benchmark Starts Biofrontera (BFRI) at Buy

Benchmark analyst Brice Jackson initiates coverage on Biofrontera (NASDAQ: BFRI) with a Buy rating and a price target of $11.00.

The analyst comments "We initiate coverage of Biofrontera, Inc. at Buy with a $11 price target. Biofrontera is a commercial stage, revenue-generating, pharmaceutical company specializing in medical dermatology. The company’s lead products are Ameluz, a photodynamic therapy approved for the treatment of pre-cancerous skin lesions, and Xepi (pr. ‘zeppi’), the only antibiotic for skin infections approved by the FDA with activity against antibiotic-resistant bacteria (MRSA). Ameluz is poised to experience significant growth based upon a combination of superior efficacy, attractive reimbursement, and an expanding sales force. The company recently came public in the United States as a carve out from German pharmaceutical company Biofrontera AG (B8F-DE:€1.70/BFRA:$3.58, Buy)."

For an analyst ratings summary and ratings history on Biofrontera click here. For more ratings news on Biofrontera click here.

Shares of Biofrontera closed at $5.50 yesterday.

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