Eton Pharmaceuticals’ (ETON) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Eton Pharmaceuticals (NASDAQ:ETON) in a report issued on Wednesday, MarketBeat reports. HC Wainwright currently has a $9.00 target price on the stock.

Eton Pharmaceuticals Stock Up 0.2 %

Eton Pharmaceuticals stock opened at $4.61 on Wednesday. The firm has a fifty day moving average of $3.77 and a 200-day moving average of $3.74. Eton Pharmaceuticals has a 52-week low of $3.03 and a 52-week high of $5.81. The firm has a market capitalization of $118.44 million, a P/E ratio of 115.25 and a beta of 1.30.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.05). The company had revenue of $9.07 million during the quarter, compared to analyst estimates of $10.00 million. Eton Pharmaceuticals had a negative net margin of 21.31% and a negative return on equity of 43.62%.

Hedge Funds Weigh In On Eton Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of ETON. Opaleye Management Inc. lifted its position in shares of 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 purchasing an additional 99,617 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in Eton Pharmaceuticals in the 2nd quarter valued at about $3,095,000. Westside Investment Management Inc. grew its stake in shares of Eton Pharmaceuticals by 2.0% during the second quarter. Westside Investment Management Inc. now owns 585,400 shares of the company’s stock valued at $1,926,000 after acquiring an additional 11,440 shares in the last quarter. Aristides Capital LLC purchased a new stake in shares of Eton Pharmaceuticals during the second quarter worth about $658,000. Finally, Acadian Asset Management LLC lifted its stake in shares of Eton Pharmaceuticals by 13.7% in the first quarter. Acadian Asset Management LLC now owns 156,386 shares of the company’s stock worth $585,000 after acquiring an additional 18,898 shares in the last quarter. Hedge funds and other institutional investors 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.