Nantahala Capital Management LLC Purchases New Stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON)

Nantahala Capital Management LLC acquired a new position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 940,733 shares of the company’s stock, valued at approximately $3,095,000. Nantahala Capital Management LLC owned 3.66% of Eton Pharmaceuticals at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Opaleye Management Inc. increased its holdings in shares of Eton Pharmaceuticals by 4.1% in the 4th quarter. Opaleye Management Inc. now owns 2,529,887 shares of the company’s stock valued at $11,081,000 after purchasing an additional 99,617 shares in the last quarter. Westside Investment Management Inc. boosted its position in Eton Pharmaceuticals by 1.9% during the first 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 in the last quarter. Acadian Asset Management LLC grew its holdings in Eton Pharmaceuticals by 13.7% in the first 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 during the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Eton Pharmaceuticals in the 2nd quarter worth about $420,000. Finally, Renaissance Technologies LLC increased 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 valued at $350,000 after acquiring an additional 41,469 shares in the last quarter. Institutional investors and hedge funds own 27.86% of the company’s stock.

Insider Buying and Selling at Eton Pharmaceuticals

In related news, major shareholder Opaleye Management Inc. bought 57,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average cost of $4.65 per share, with a total value of $267,375.00. Following the completion of the transaction, the insider now owns 2,660,000 shares of the company’s stock, valued at $12,369,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 14.89% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Eton Pharmaceuticals in a research note on Wednesday, September 4th.

Eton Pharmaceuticals Stock Up 3.4 %

ETON opened at $6.00 on Tuesday. The firm has a market cap of $154.15 million, a P/E ratio of 150.00 and a beta of 1.30. The business’s fifty day simple moving average is $4.48 and its 200 day simple moving average is $3.85. Eton Pharmaceuticals, Inc. has a 52 week low of $3.03 and a 52 week high of $6.25.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05). The business 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 analysts expect that Eton Pharmaceuticals, Inc. will post -0.15 EPS for the current fiscal year.

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.