AEON Biopharma (NASDAQ:AEON) Raised to “Strong-Buy” at Lake Street Capital

AEON Biopharma (NASDAQ:AEON) was upgraded by Lake Street Capital to a “strong-buy” rating in a report released on Thursday, Zacks reports.

Several other research firms have also recently commented on AEON. HC Wainwright reiterated a “buy” rating and set a $1.20 price target (down from $5.00) on shares of AEON Biopharma in a report on Friday, August 14th. Laidlaw started coverage on shares of AEON Biopharma in a research report on Wednesday, September 9th. They set a “buy” rating and a $1.80 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $1.67.

AEON Biopharma Trading Down 3.3%

AEON Biopharma stock opened at $0.29 on Thursday. The firm has a market capitalization of $14.47 million, a P/E ratio of 1.61 and a beta of 0.65. AEON Biopharma has a twelve month low of $0.18 and a twelve month high of $1.45. The stock’s fifty day simple moving average is $0.26 and its 200-day simple moving average is $0.61.

Insider Transactions at AEON Biopharma

In other news, major shareholder Timothy P. Lynch acquired 1,150,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were bought at an average price of $0.21 per share, with a total value of $241,500.00. Following the completion of the acquisition, the insider owned 6,500,000 shares in the company, valued at $1,365,000. This trade represents a 21.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 9.40% of the stock is owned by corporate insiders.

About AEON Biopharma

AEON Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing therapeutic applications of botulinum toxin. The company’s lead product candidate, ABP-450, is an injectable botulinum toxin type A complex being developed for disorders involving muscle contraction and nerve signaling.

AEON has primarily focused its clinical development programs on chronic migraine and cervical dystonia, a condition characterized by involuntary neck-muscle contractions. The company has also evaluated potential applications in other therapeutic areas, with the goal of expanding botulinum toxin beyond its established cosmetic uses.

Based in Irvine, California, AEON Biopharma became a publicly traded company following a business combination with Priveterra Acquisition Corp.