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

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

AEON Biopharma Stock Performance

AEON stock opened at $1.19 on Tuesday. The stock’s fifty day simple moving average is $0.99 and its 200-day simple moving average is $2.91. AEON Biopharma has a 52-week low of $0.64 and a 52-week high of $17.17.

AEON Biopharma (NASDAQ:AEON) last announced its earnings results on Monday, August 12th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. Equities research analysts predict that AEON Biopharma will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On AEON Biopharma

An institutional investor recently raised its position in AEON Biopharma stock. Vanguard Group Inc. grew its holdings in shares of AEON Biopharma, Inc. (NASDAQ:AEON) by 261.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 758,992 shares of the company’s stock after acquiring an additional 549,207 shares during the quarter. Vanguard Group Inc. owned about 2.01% of AEON Biopharma worth $8,804,000 as of its most recent SEC filing. 22.78% of the stock is owned by institutional investors and hedge funds.

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 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.