Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Stock Position Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC raised its stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 63.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 106,500 shares of the company’s stock after buying an additional 41,469 shares during the quarter. Renaissance Technologies LLC owned 0.41% of Eton Pharmaceuticals worth $350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC purchased a new position in shares of Eton Pharmaceuticals during the 2nd quarter valued at $420,000. Acadian Asset Management LLC grew its stake in 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 purchasing an additional 18,898 shares in the last quarter. Finally, Westside Investment Management Inc. increased its position in Eton Pharmaceuticals by 1.9% in the 1st quarter. Westside Investment Management Inc. now owns 573,960 shares of the company’s stock worth $2,152,000 after purchasing an additional 10,850 shares during the last quarter. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Eton Pharmaceuticals Trading Up 2.2 %

ETON stock opened at $8.00 on Friday. The firm has a market cap of $206.72 million, a PE ratio of -30.77 and a beta of 1.31. Eton Pharmaceuticals, Inc. has a 1 year low of $3.03 and a 1 year high of $8.03. The company has a fifty day simple moving average of $5.11 and a 200 day simple moving average of $4.06.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $9.07 million for the quarter, compared to analyst estimates of $10.00 million. As a group, analysts forecast that Eton Pharmaceuticals, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. HC Wainwright lifted their price target on Eton Pharmaceuticals from $9.00 to $11.00 and gave the company a “buy” rating in a report on Friday, October 4th. Craig Hallum raised their price objective on shares of Eton Pharmaceuticals from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, October 4th.

Insider Transactions at Eton Pharmaceuticals

In other news, major shareholder Opaleye Management Inc. bought 11,248 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were purchased at an average price of $7.22 per share, for a total transaction of $81,210.56. Following the acquisition, the insider now directly owns 2,730,000 shares of the company’s stock, valued at $19,710,600. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders bought 85,600 shares of company stock worth $462,674. 14.89% of the stock is owned by insiders.

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.