Biofrontera (BFRI – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Bruce Jackson from Benchmark Co. maintained a Buy rating on the stock and has a $7.00 price target.
Bruce Jackson has given his Buy rating due to a combination of factors that suggest potential growth for Biofrontera. The company recently provided a fourth-quarter update, indicating that while their revenue was slightly below estimates, they anticipate a reacceleration of growth in 2025. This optimism is driven by the new FDA-approved labeling that allows for an increased dosage of Ameluz, which is expected to expand the market and drive significant sales growth.
Additionally, Biofrontera has achieved a significant milestone with positive preliminary results from a Phase 3 study of Ameluz for the treatment of superficial Basal Cell Carcinoma (sBCC). These results were statistically significant, and the company plans to file for regulatory approval in 2025, with potential market entry by 2026. These developments, alongside the expectation of new indications reaching the market in the coming years, underpin Jackson’s positive outlook on the company’s future performance.