Eton Pharmaceuticals (NASDAQ:ETON) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Eton Pharmaceuticals (NASDAQ:ETON) in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a $15.00 target price on the stock, up from their prior target price of $11.00.

Separately, Craig Hallum increased their price target on shares of Eton Pharmaceuticals from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, October 28th.

Eton Pharmaceuticals Stock Up 3.5 %

Shares of Eton Pharmaceuticals stock opened at $12.45 on Tuesday. The stock has a market cap of $321.71 million, a P/E ratio of -56.59 and a beta of 1.25. Eton Pharmaceuticals has a 12-month low of $3.03 and a 12-month high of $12.54. The business’s 50 day moving average is $8.10 and its 200-day moving average is $5.30.

Insider Buying and Selling at Eton Pharmaceuticals

In related news, major shareholder Opaleye Management Inc. acquired 57,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of $4.65 per share, with a total value of $267,375.00. Following the completion of the transaction, the insider now directly owns 2,660,000 shares of the company’s stock, valued at $12,369,000. This trade represents a 2.21 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 85,600 shares of company stock worth $462,674 over the last 90 days. Company insiders own 14.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parkman Healthcare Partners LLC boosted its holdings in shares of Eton Pharmaceuticals by 2.8% during the third quarter. Parkman Healthcare Partners LLC now owns 260,226 shares of the company’s stock worth $1,561,000 after acquiring an additional 7,029 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Eton Pharmaceuticals in the 3rd quarter valued at $54,000. Westside Investment Management Inc. grew its holdings in Eton Pharmaceuticals by 2.0% in the 2nd quarter. Westside Investment Management Inc. now owns 585,400 shares of the company’s stock valued at $1,926,000 after buying an additional 11,440 shares in the last quarter. Jane Street Group LLC bought a new position in Eton Pharmaceuticals during the 3rd quarter worth $90,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Eton Pharmaceuticals by 86.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,014 shares of the company’s stock worth $390,000 after buying an additional 30,167 shares during the period. Institutional investors and hedge funds own 27.86% of the company’s stock.

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.