Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Major Shareholder Opaleye Management Inc. Purchases 16,852 Shares of Stock

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) major shareholder Opaleye Management Inc. bought 16,852 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was acquired at an average cost of $6.77 per share, for a total transaction of $114,088.04. Following the purchase, the insider now owns 2,720,000 shares in the company, 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 hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Monday, October 7th, Opaleye Management Inc. purchased 11,248 shares of Eton Pharmaceuticals stock. The stock was bought at an average price of $7.22 per share, with a total value of $81,210.56.
• On Tuesday, September 10th, Opaleye Management Inc. acquired 57,500 shares of Eton Pharmaceuticals stock. The shares were bought at an average price of $4.65 per share, for a total transaction of $267,375.00.

Eton Pharmaceuticals Price Performance

NASDAQ:ETON opened at $7.40 on Wednesday. Eton Pharmaceuticals, Inc. has a 1-year low of $3.03 and a 1-year high of $7.66. The stock has a market cap of $190.11 million, a P/E ratio of 185.00 and a beta of 1.31. The firm has a 50-day moving average of $4.86 and a two-hundred day moving average of $3.98.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings results 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 business had revenue of $9.07 million during the quarter, compared to analysts’ expectations of $10.00 million. As a group, equities analysts expect that Eton Pharmaceuticals, Inc. will post -0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Eton Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ETON. Nantahala Capital Management LLC acquired a new stake in Eton Pharmaceuticals in the second quarter valued at $3,095,000. Aristides Capital LLC bought a new stake in shares of Eton Pharmaceuticals in the 2nd quarter worth about $658,000. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Eton Pharmaceuticals in the 2nd quarter valued at about $420,000. Stonepine Capital Management LLC bought a new position in shares of Eton Pharmaceuticals during the second quarter worth about $362,000. Finally, Opaleye Management Inc. grew its stake in Eton Pharmaceuticals by 4.1% in 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. 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.