AEON Biopharma (NASDAQ:AEON) Stock Rating Raised to Strong-Buy at Lake Street Capital

Lake Street Capital upgraded shares of AEON Biopharma (NASDAQ:AEON) to a strong-buy rating in a report issued on Thursday morning,Zacks reports.

AEON has been the subject of several other research reports. HC Wainwright reissued a “buy” rating and issued a $1.20 price target (down from $5.00) on shares of AEON Biopharma in a research note on Friday, August 14th. Laidlaw initiated coverage on AEON Biopharma in a research note on Wednesday, September 9th. They issued a “buy” rating and a $1.80 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $1.67.

AEON Biopharma Stock Performance

Shares of NASDAQ AEON opened at $0.29 on Thursday. The firm has a 50 day moving average price of $0.26 and a two-hundred day moving average price of $0.61. The stock has a market cap of $14.47 million, a P/E ratio of 1.61 and a beta of 0.65. AEON Biopharma has a 52-week low of $0.18 and a 52-week high of $1.45.

Insider Activity at AEON Biopharma

In other AEON Biopharma news, major shareholder Timothy P. Lynch bought 1,150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average price of $0.21 per share, with a total value of $241,500.00. Following the completion of the purchase, the insider directly owned 6,500,000 shares of the company’s stock, valued at approximately $1,365,000. This trade represents a 21.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 9.40% of the stock is currently owned by 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.