Aristides Capital LLC Takes Position in Eton Pharmaceuticals, Inc. (NASDAQ:ETON)

Aristides Capital LLC acquired a new position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) during the second quarter, HoldingsChannel.com reports. The firm acquired 200,000 shares of the company’s stock, valued at approximately $658,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ETON. Opaleye Management Inc. increased its stake in Eton Pharmaceuticals by 4.1% during the fourth quarter. Opaleye Management Inc. now owns 2,529,887 shares of the company’s stock worth $11,081,000 after acquiring an additional 99,617 shares during the last quarter. Westside Investment Management Inc. grew its stake in shares of Eton Pharmaceuticals by 1.9% in the first quarter. Westside Investment Management Inc. now owns 573,960 shares of the company’s stock valued at $2,152,000 after buying an additional 10,850 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Eton Pharmaceuticals by 13.7% in the first quarter. Acadian Asset Management LLC now owns 156,386 shares of the company’s stock valued at $585,000 after buying an additional 18,898 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Eton Pharmaceuticals in the second quarter valued at $420,000. Finally, Renaissance Technologies LLC grew its stake in shares of Eton Pharmaceuticals by 63.8% in the second quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock valued at $350,000 after buying an additional 41,469 shares in the last quarter. Institutional investors and hedge funds own 27.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Eton Pharmaceuticals in a report on Wednesday, September 4th.

Insider Activity

In other news, major shareholder Opaleye Management Inc. bought 57,500 shares of Eton Pharmaceuticals stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average cost of $4.65 per share, with a total value of $267,375.00. Following the acquisition, the insider now owns 2,660,000 shares of the company’s stock, valued at $12,369,000. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 14.89% of the company’s stock.

Eton Pharmaceuticals Price Performance

Shares of NASDAQ ETON opened at $6.00 on Tuesday. The company has a market capitalization of $154.15 million, a price-to-earnings ratio of 150.00 and a beta of 1.30. The business has a 50-day moving average of $4.48 and a two-hundred day moving average of $3.85. Eton Pharmaceuticals, Inc. has a 1 year low of $3.03 and a 1 year high of $6.25.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.05). Eton Pharmaceuticals had a negative net margin of 21.31% and a negative return on equity of 43.62%. The firm had revenue of $9.07 million during the quarter, compared to analysts’ expectations of $10.00 million. As a group, equities research analysts expect that Eton Pharmaceuticals, Inc. will post -0.15 earnings per share for the current year.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing, acquiring, and commercializing pharmaceutical products for rare diseases. The company offers ALKINDI SPRINKLE, a replacement therapy for adrenocortical insufficiency in children under 17 years of age; Carglumic Acid for the treatment of acute and chronic hyperammonemia due to N-acetylglutamate Synthase deficiency; Betaine Anhydrous for the treatment of homocystinuria; and Nitisinone for the treatment of tyrosinemia type 1.