BFRI - Biofrontera rebounds after Benchmark started coverage estimating 100% upside

Following a loss of nearly a fifth of its market cap on Tuesday, Biofrontera (NASDAQ:BFRI) has recovered to add ~24.7% in the pre-market after Benchmark began its coverage with a Buy rating. The analyst Bruce Jackson has set the price target at $11 per share to imply a premium of 100% to the last close. About 1.5M company shares have changed hands so far in early trading compared to ~20.3M of 65-day average volume. According to sites that track mentions of ticker symbols, Biofrontera (BFRI) is among the top five highly cited stocks on Twitter over the past hour. Data from Market Watch indicates that ~3.1M company shares (~89.5% of its float) are currently shorted. Biofrontera (BFRI), a biopharma focused on the commercialization of dermatological products, made its public debut in October for $18M in gross proceeds.

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Biofrontera rebounds after Benchmark started coverage estimating 100% upside