Biofrontera Shares Are Trading Higher After Benchmark Initiates Coverage

• Benchmark initiated coverage of Biofrontera Inc (NASDAQ:BFRI) with a Buy rating and $11 price target. 
• The Company specializes in medical dermatology, which recently came public in the U.S. as a carve-out from Germany's Biofrontera AG (NASDAQ:BFRA).
• Ameluz and Xepi are Biofrontera's current lead products. 
• Ameluz is poised for "significant growth" given a combination of superior efficacy, attractive reimbursement, and an expanding sales force, writes analyst Bruce Jackson.
• On Monday, Biofrontera enrolled the first subject in the Phase 2b study to evaluate the safety and efficacy of Ameluz in combination with the red-light lamp BF-RhodoLED for moderate-to-severe acne with photodynamic therapy.
• The study with four arms will include 126 adult patients.
• Price Action: BFRI shares are up 21.8% at $6.70 during the market session on the last check Wednesday.