Eton Pharmaceuticals (NASDAQ:ETON) Price Target Raised to $26.00

Eton Pharmaceuticals (NASDAQ:ETON) had its target price boosted by Craig Hallum from $23.00 to $26.00 in a research report report published on Wednesday morning,Benzinga reports. Craig Hallum currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on ETON. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of Eton Pharmaceuticals in a report on Wednesday. B. Riley restated a “buy” rating and issued a $24.00 price objective (up from $21.00) on shares of Eton Pharmaceuticals in a research note on Wednesday.

Eton Pharmaceuticals Trading Down 3.8 %

Shares of ETON opened at $14.22 on Wednesday. The stock has a 50 day moving average of $15.58 and a 200 day moving average of $11.54. The company has a market capitalization of $370.45 million, a price-to-earnings ratio of -64.64 and a beta of 1.37. Eton Pharmaceuticals has a 12 month low of $3.03 and a 12 month high of $18.41.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its earnings results on Tuesday, March 18th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). Eton Pharmaceuticals had a negative return on equity of 36.29% and a negative net margin of 15.81%. The firm had revenue of $11.65 million during the quarter, compared to analyst estimates of $10.53 million. As a group, equities research analysts predict that Eton Pharmaceuticals will post -0.14 earnings per share for the current year.

Institutional Trading of Eton Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 valued at $390,000 after buying an additional 30,167 shares in the last quarter. Wasatch Advisors LP bought a new position in shares of Eton Pharmaceuticals in the third quarter valued at approximately $1,431,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Eton Pharmaceuticals during the third quarter valued at approximately $54,000. Parkman Healthcare Partners LLC increased its holdings in Eton Pharmaceuticals by 2.8% during the 3rd 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. Finally, Jane Street Group LLC bought a new stake in Eton Pharmaceuticals during the 3rd quarter worth approximately $90,000. 27.86% of the stock is currently owned by institutional investors.

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.