HC Wainwright Reaffirms “Buy” Rating for AEON Biopharma (NASDAQ:AEON)

HC Wainwright reaffirmed their buy rating on shares of AEON Biopharma (NASDAQ:AEON) in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a $5.00 price target on the stock.

AEON Biopharma Price Performance

NASDAQ AEON opened at $1.10 on Tuesday. The business has a fifty day simple moving average of $1.03 and a 200 day simple moving average of $2.92. AEON Biopharma has a 12 month low of $0.64 and a 12 month high of $17.17.

AEON Biopharma (NASDAQ:AEON) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. On average, analysts anticipate that AEON Biopharma will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On AEON Biopharma

A hedge fund recently raised its stake in AEON Biopharma stock. Vanguard Group Inc. grew its holdings in shares of AEON Biopharma, Inc. (NASDAQ:AEON) by 261.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 758,992 shares of the company’s stock after purchasing an additional 549,207 shares during the quarter. Vanguard Group Inc. owned approximately 2.01% of AEON Biopharma worth $8,804,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 22.78% of the company’s stock.

About AEON Biopharma

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 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, as well as develops ABP-450 for the treatment of gastroparesis and posttraumatic stress disorder.