AEON Biopharma (NASDAQ:AEON) Price Target Cut to $6.00 by Analysts at HC Wainwright

AEON Biopharma (NASDAQ:AEON) had its price objective reduced by HC Wainwright from $18.00 to $6.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

AEON Biopharma Stock Down 2.5 %

AEON traded down $0.04 during midday trading on Wednesday, reaching $1.54. 26,018 shares of the company’s stock were exchanged, compared to its average volume of 69,168. AEON Biopharma has a one year low of $1.38 and a one year high of $17.17. The business has a 50-day simple moving average of $7.60 and a two-hundred day simple moving average of $7.40.

AEON Biopharma (NASDAQ:AEON) last released its earnings results on Friday, March 29th. The company reported ($0.71) EPS for the quarter. Equities analysts predict that AEON Biopharma will post -1.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Formidable Asset Management LLC bought a new position in AEON Biopharma in the third quarter valued at approximately $360,000. Vanguard Group Inc. grew its stake in shares of AEON Biopharma by 261.8% during the first quarter. Vanguard Group Inc. now owns 758,992 shares of the company’s stock worth $8,804,000 after purchasing an additional 549,207 shares during the period. Finally, Atalaya Capital Management LP bought a new stake in AEON Biopharma in the third quarter valued at about $19,827,000. Institutional investors own 22.78% of the company’s stock.

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.