Eton Pharmaceuticals (NASDAQ:ETON) Price Target Raised to $11.00 at HC Wainwright

Eton Pharmaceuticals (NASDAQ:ETON) had its price target upped by equities researchers at HC Wainwright from $9.00 to $11.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 59.19% from the company’s current price.

Eton Pharmaceuticals Stock Performance

Shares of ETON stock opened at $6.91 on Friday. Eton Pharmaceuticals has a one year low of $3.03 and a one year high of $6.92. The company’s 50-day simple moving average is $4.57 and its 200-day simple moving average is $3.88. The stock has a market capitalization of $177.52 million, a price-to-earnings ratio of 172.75 and a beta of 1.30.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data 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). The business had revenue of $9.07 million for the quarter, compared to analyst estimates of $10.00 million. Eton Pharmaceuticals had a negative return on equity of 43.62% and a negative net margin of 21.31%. As a group, research analysts forecast that Eton Pharmaceuticals will post -0.15 EPS for the current year.

Insider Buying and Selling at Eton Pharmaceuticals

In other news, major shareholder Opaleye Management Inc. purchased 57,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were bought at an average price of $4.65 per share, for a total transaction of $267,375.00. Following the completion of the purchase, the insider now owns 2,660,000 shares of the company’s stock, valued at $12,369,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 14.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Westside Investment Management Inc. boosted its holdings in Eton Pharmaceuticals by 1.9% during the first quarter. Westside Investment Management Inc. now owns 573,960 shares of the company’s stock worth $2,152,000 after buying an additional 10,850 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Eton Pharmaceuticals by 13.7% during the first quarter. Acadian Asset Management LLC now owns 156,386 shares of the company’s stock worth $585,000 after buying an additional 18,898 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Eton Pharmaceuticals by 63.8% during the second quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock worth $350,000 after buying an additional 41,469 shares in the last quarter. Opaleye Management Inc. boosted its holdings 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 buying an additional 99,617 shares in the last quarter. Finally, Stonepine Capital Management LLC bought a new stake in Eton Pharmaceuticals during the second quarter worth approximately $362,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

About Eton Pharmaceuticals

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.