AEON Biopharma (NASDAQ:AEON) Now Covered by Lake Street Capital

Equities researchers at Lake Street Capital assumed coverage on shares of AEON Biopharma (NASDAQ:AEON) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $1.00 price target on the stock. Lake Street Capital’s price objective would indicate a potential upside of 311.52% from the company’s previous close.

Separately, Zacks Research raised AEON Biopharma to a “hold” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $1.00.

AEON Biopharma Trading Down 4.2%

AEON stock opened at $0.24 on Thursday. The stock has a 50-day moving average price of $0.60 and a two-hundred day moving average price of $0.89. AEON Biopharma has a 1 year low of $0.22 and a 1 year high of $1.45. The stock has a market cap of $6.15 million, a PE ratio of 1.35 and a beta of 0.61.

Institutional Trading of AEON Biopharma

An institutional investor recently raised its position in AEON Biopharma stock. Geode Capital Management LLC increased its holdings in shares of AEON Biopharma, Inc. (NASDAQ:AEON) by 27.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,134 shares of the company’s stock after purchasing an additional 13,061 shares during the quarter. Geode Capital Management LLC owned approximately 0.51% of AEON Biopharma worth $66,000 as of its most recent SEC filing. 22.78% of the stock is currently owned by hedge funds and other institutional investors.

About AEON Biopharma

AEON Biopharma, Inc, formerly Allied Energy Corp., is a clinical‐stage biopharmaceutical company focused on developing and commercializing treatments for rare and orphan diseases. The company applies enzyme replacement and gene therapy platforms to address unmet medical needs in central nervous system and metabolic disorders. Its lead program, AES-103, is being developed as an enzyme replacement therapy for Crigler-Najjar syndrome, a hereditary condition characterized by high levels of unconjugated bilirubin.

Beyond AES-103, AEON Biopharma is advancing AES-201 for X-linked adrenoleukodystrophy (X-ALD), a progressive neurological disorder, and AES-104 for post–COVID-19 conditions, commonly referred to as “long COVID.” These programs are in preclinical or early clinical stages, with ongoing efforts to optimize delivery, evaluate safety profiles and establish proof of concept.