Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Short Interest Update

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 75,500 shares, an increase of 5.6% from the August 31st total of 71,500 shares. Based on an average daily trading volume, of 86,500 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.3% of the shares of the stock are short sold.

Insider Transactions at Eton Pharmaceuticals

In related news, major shareholder Opaleye Management Inc. bought 57,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average price of $4.65 per share, with a total value of $267,375.00. Following the completion of the purchase, the insider now directly owns 2,660,000 shares of the company’s stock, valued at $12,369,000. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 14.89% of the company’s stock.

Institutional Trading of Eton Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. 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. Westside Investment Management Inc. grew its holdings in Eton Pharmaceuticals by 1.9% during the 1st quarter. Westside Investment Management Inc. now owns 573,960 shares of the company’s stock worth $2,152,000 after acquiring an additional 10,850 shares in the last quarter. Acadian Asset Management LLC raised its holdings 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 purchasing an additional 18,898 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth $420,000. Finally, Renaissance Technologies LLC lifted its holdings in Eton Pharmaceuticals by 63.8% during the 2nd quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock worth $350,000 after buying an additional 41,469 shares during the last quarter. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Eton Pharmaceuticals in a report on Wednesday, September 4th.

Eton Pharmaceuticals Price Performance

Shares of ETON stock traded down $0.09 during trading on Tuesday, hitting $5.91. 88,535 shares of the stock traded hands, compared to its average volume of 71,247. The firm’s fifty day moving average price is $4.48 and its 200-day moving average price is $3.85. The firm has a market capitalization of $151.83 million, a P/E ratio of 151.75 and a beta of 1.30. Eton Pharmaceuticals has a 52-week low of $3.03 and a 52-week high of $6.25.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.05). The company had revenue of $9.07 million for the quarter, compared to analysts’ expectations of $10.00 million. Eton Pharmaceuticals had a negative return on equity of 43.62% and a negative net margin of 21.31%. As a group, equities research analysts expect that Eton Pharmaceuticals will post -0.15 earnings per share for the current year.

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.