AEON Biopharma (NASDAQ:AEON) Earns “Buy” Rating from HC Wainwright

AEON Biopharma (NASDAQ:AEON)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $18.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 174.81% from the company’s previous close.

AEON Biopharma Stock Down 4.9 %

NASDAQ AEON traded down $0.34 during trading hours on Wednesday, hitting $6.55. 29,335 shares of the company’s stock traded hands, compared to its average volume of 51,940. AEON Biopharma has a 52-week low of $3.37 and a 52-week high of $17.17. The firm’s 50-day moving average is $10.74 and its 200-day moving average is $7.79.

AEON Biopharma (NASDAQ:AEON) last announced its quarterly earnings data on Friday, March 29th. The company reported ($0.71) earnings per share (EPS) for the quarter. As a group, sell-side analysts predict that AEON Biopharma will post -1.54 EPS for the current fiscal year.

Institutional Trading of AEON Biopharma

Hedge funds have recently made changes to their positions in the company. Atalaya Capital Management LP purchased a new stake in shares of AEON Biopharma in the 3rd quarter valued at approximately $19,827,000. Formidable Asset Management LLC acquired a new stake in shares of AEON Biopharma in the 3rd quarter valued at $360,000. Vanguard Group Inc. raised its holdings in shares of AEON Biopharma by 8.3% in the 4th quarter. Vanguard Group Inc. now owns 209,785 shares of the company’s stock valued at $1,510,000 after purchasing an additional 16,091 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of AEON Biopharma by 53.4% in the 4th quarter. Northern Trust Corp now owns 49,819 shares of the company’s stock valued at $359,000 after buying an additional 17,341 shares during the last quarter. Hedge funds and other institutional investors own 22.78% of the company’s stock.

AEON Biopharma Company Profile

AEON Biopharma, Inc, a clinical stage biopharmaceutical company, focuses on developing botulinum toxins. It develops ABP-450 (prabotulinumtoxinA) injection for debilitating medical conditions, which completed a Phase 2 study for the treatment of cervical dystonia and has an ongoing Phase 2 study for the treatment of both chronic and episodic migraine.