Craig Hallum Forecasts Strong Price Appreciation for Eton Pharmaceuticals (NASDAQ:ETON) Stock

Eton Pharmaceuticals (NASDAQ:ETON) had its price objective raised by Craig Hallum from $10.00 to $15.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, HC Wainwright raised their target price on Eton Pharmaceuticals from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, October 4th.

Eton Pharmaceuticals Trading Down 2.6 %

Shares of ETON opened at $8.47 on Monday. Eton Pharmaceuticals has a 1-year low of $3.03 and a 1-year high of $9.12. The stock has a market capitalization of $217.60 million, a P/E ratio of 211.75 and a beta of 1.31. The business’s 50-day moving average price is $6.29 and its 200 day moving average price is $4.49.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share (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 firm had revenue of $9.07 million for the quarter, compared to analyst estimates of $10.00 million. On average, research analysts predict that Eton Pharmaceuticals will post -0.17 earnings per share for the current year.

Insider Transactions at Eton Pharmaceuticals

In related news, major shareholder Opaleye Management Inc. acquired 16,852 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were purchased at an average cost of $6.77 per share, with a total value of $114,088.04. Following the completion of the transaction, the insider now owns 2,720,000 shares of the company’s stock, valued at approximately $18,414,400. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders purchased 85,600 shares of company stock valued at $462,674 over the last three months. 14.89% of the stock is owned by corporate insiders.

Institutional Trading of Eton Pharmaceuticals

A number of institutional investors have recently bought and sold shares of ETON. 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. Acadian Asset Management LLC grew its stake in shares of Eton Pharmaceuticals by 13.7% in the 1st 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 position in Eton Pharmaceuticals in the second quarter worth approximately $420,000. Renaissance Technologies LLC raised its position in Eton Pharmaceuticals by 63.8% during the second quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock valued at $350,000 after acquiring an additional 41,469 shares in the last quarter. Finally, Nantahala Capital Management LLC bought a new stake in Eton Pharmaceuticals in the second quarter worth approximately $3,095,000. 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.