Bruce Jackson, an analyst from Benchmark Co., maintained the Buy rating on Biofrontera (BFRI – Research Report). The associated price target was lowered to $2.75.
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Bruce Jackson has given his Buy rating due to a combination of factors including Biofrontera’s strategic advancements and promising future prospects. The company has made significant progress with its Ameluz product, particularly with the completion of a Phase 3 study for the treatment of superficial Basal Cell Carcinoma (sBCC), which showed highly statistically significant results. This milestone is expected to lead to a supplemental New Drug Application (sNDA) filing in 2025, with potential approval by mid-2026, offering a substantial growth opportunity.
Additionally, Biofrontera’s management has taken steps to enhance their CRM and backend support, aiming for consistent improvement in results. The anticipated launch of new indications for Ameluz, such as for Actinic Keratoses of the extremities, is expected to further boost revenue growth in the coming years. Despite a recent revenue shortfall, the company’s strategic initiatives and upcoming product expansions position it well for future success, justifying the Buy rating with a price target of $2.75 per share.