Biofrontera has launched a buyout on Roth Capital, share soars by Investing.com
By Sam Boughedda
Investing.com – Biopharmaceutical company Biofrontera Inc (NASDAQ 🙂 saw its stock price jump 135% to $ 6.19 on Wednesday after Roth Capital analysts launched the stock with a buy rating.
The stock, which debuted on October 28, has been steadily declining since it hit an intraday high of $ 4.99 in early November.
Roth analyst Jonathan Aschoff has set a 12-month price target of $ 20 for stocks, saying they project future US earnings from Ameluz and Xepi treatments in actinic keratosis and impetigo, respectively.
“Our initial assessment rules out the potential commercial uptick of any potential future program, given that BFRI is clearly focused on its two currently approved drugs,” Aschoff said.
On Tuesday, Biofrontera announced that it will release its third quarter results on November 30.
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