Biofrontera Shares Are Trading Higher After Benchmark Initiates Coverage - Biofrontera (NASDAQ:BFRI)

Benchmark initiated coverage of Biofrontera Inc BFRI with a Buy rating and $11 price target.
The Company specializes in medical dermatology, which recently came public in the U.S. as a carve-out from Germany's Biofrontera AG BFRA.
Ameluz and Xepi are Biofrontera's current lead products.
Ameluz is poised for "significant growth" given a combination of superior efficacy, attractive reimbursement, and an expanding sales force, writes analyst Bruce Jackson.
On Monday, Biofrontera enrolled the first subject in the Phase 2b study to evaluate the safety and efficacy of Ameluz in combination with the red-light lamp BF-RhodoLED for moderate-to-severe acne with photodynamic therapy.
The study with four arms will include 126 adult patients.
Price Action: BFRI shares are up 21.8% at $6.70 during the market session on the last check Wednesday.