AEON Biopharma (NASDAQ:AEON) Upgraded at Lake Street Capital

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

Other equities analysts also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $1.20 price objective (down from $5.00) on shares of AEON Biopharma in a research report on Friday, August 14th. Laidlaw initiated coverage on AEON Biopharma in a report on Wednesday, September 9th. They issued a “buy” rating and a $1.80 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $1.67.

AEON Biopharma Price Performance

Shares of AEON Biopharma stock opened at $0.29 on Thursday. The stock has a market cap of $14.47 million, a P/E ratio of 1.61 and a beta of 0.65. The stock’s 50 day simple moving average is $0.26 and its 200-day simple moving average is $0.61. AEON Biopharma has a 1-year low of $0.18 and a 1-year high of $1.45.

Insider Transactions at AEON Biopharma

In other news, major shareholder Timothy P. Lynch bought 1,150,000 shares of the business’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 transaction, the insider directly owned 6,500,000 shares in the company, valued at $1,365,000. This trade represents a 21.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.40% of the stock is currently owned by insiders.

AEON Biopharma Company Profile

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.