AEON Biopharma (NASDAQ:AEON) Price Target Lowered to $5.00 at HC Wainwright

AEON Biopharma (NASDAQ:AEON) had its price objective reduced by stock analysts at HC Wainwright from $6.00 to $5.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 405.00% from the stock’s previous close.

AEON Biopharma Price Performance

AEON Biopharma stock opened at $0.99 on Wednesday. AEON Biopharma has a fifty-two week low of $0.80 and a fifty-two week high of $17.17. The company’s 50 day simple moving average is $1.50 and its 200 day simple moving average is $5.36.

AEON Biopharma (NASDAQ:AEON) last announced its earnings results on Tuesday, May 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. Equities research analysts predict that AEON Biopharma will post -0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AEON Biopharma stock. Vanguard Group Inc. increased its position in AEON Biopharma, Inc. (NASDAQ:AEON) by 261.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 as of its most recent SEC filing. 22.78% of the stock is owned by hedge funds and other institutional investors.

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.