Biofrontera (NASDAQ:BFRI) the stock caught the attention of investors on Wednesday following a bullish price forecast.
Starting with the price prediction, Roth Capital analyst Jonathan Aschoff launched a BFRI stock hedge with a buy rating and a price target of $ 20. The analyst believes the stock is on the verge of growth thanks to its plans to sell in the United States.
This new price prediction causes BFRI stock to trade intensely today. That includes some 95 million shares changing hands at the time of writing. That’s quite a jump from its average daily trading volume of around 1.7 million shares.
With that in mind, let’s take a look below at what potential BFRI stock investors need to know about the company!
- Biofrontera is a biopharmaceutical company specializing in “the development and sale of dermatological drugs and medical cosmetics”.
- The company’s flagship product is the combination of Ameluz and BF-RhodoLED.
- Ameluz is a topical prescription medicine 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 in the United States since 2016.
- The company’s other offerings include the treatment for impetigo Xepi and the Belixos dermocosmetics series.
- Biofrontera was founded in 1997 by Dr Hermann Lübbert, who is currently its CEO.
BFRI stock is up 102.7% Wednesday morning but is only up 20.6% since the start of the year.
There is more stock market news for traders below!
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At the date of publication, William White did not hold (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, submitted to InvestorPlace.com Publication guidelines.
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