BFRI - Biofrontera spikes extending recent uptrend

Biofrontera (NASDAQ:BFRI) has added more than a tenth in value in morning hours as the biopharmaceutical stock continues its recent upward momentum. About17.1M Biofrontera (BFRI) shares have changed hands so far, less than the 65-day average of ~18.1M. Since early this month, Biofrontera (BFRI) has climbed over 10%, outperforming the broader market, as shown in the graph below. Yet, at Thursday’s close, shares continued to hover ~32.8% below a peak reached in late November when Roth Capital initiated its coverage with a Buy rating and $20 per share target. Biofrontera (BFRI), focused on treatments for dermatological conditions, made its public debut in October, expecting $18M in gross proceeds. Roth analyst Jonathan Aschoff based his valuation on future revenue for Ameluz (aminolevulinic acid) and Xepi (ozenoxacin), two FDA-approved treatments indicated for actinic keratoses (AK) and impetigo, respectively.

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Biofrontera spikes extending recent uptrend