Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Major Shareholder Opaleye Management Inc. Purchases 11,248 Shares

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) major shareholder Opaleye Management Inc. acquired 11,248 shares of the stock in a transaction on Monday, October 7th. The stock was bought at an average cost of $7.22 per share, for a total transaction of $81,210.56. Following the transaction, the insider now owns 2,730,000 shares of the company’s stock, valued at approximately $19,710,600. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, October 4th, Opaleye Management Inc. acquired 16,852 shares of Eton Pharmaceuticals stock. The stock was bought at an average cost of $6.77 per share, for a total transaction of $114,088.04.
• On Tuesday, September 10th, Opaleye Management Inc. acquired 57,500 shares of Eton Pharmaceuticals stock. The stock was bought at an average cost of $4.65 per share, for a total transaction of $267,375.00.

Eton Pharmaceuticals Price Performance

ETON stock traded up $0.10 during midday trading on Tuesday, reaching $7.40. The company had a trading volume of 346,127 shares, compared to its average volume of 78,780. Eton Pharmaceuticals, Inc. has a 1 year low of $3.03 and a 1 year high of $7.66. The company has a market capitalization 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 price of $4.78 and a 200-day moving average price of $3.96.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $10.00 million. Eton Pharmaceuticals had a negative return on equity of 43.62% and a negative net margin of 21.31%. On average, equities analysts predict that Eton Pharmaceuticals, Inc. will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Eton Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised 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 valued at $2,152,000 after buying an additional 10,850 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Eton Pharmaceuticals by 13.7% in the 1st quarter. Acadian Asset Management LLC now owns 156,386 shares of the company’s stock worth $585,000 after purchasing an additional 18,898 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Eton Pharmaceuticals by 63.8% in the 2nd quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock worth $350,000 after purchasing an additional 41,469 shares in the last quarter. Opaleye Management Inc. raised its holdings in Eton Pharmaceuticals by 4.1% in the 4th 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. Finally, Stonepine Capital Management LLC bought a new position in Eton Pharmaceuticals in the 2nd quarter worth $362,000. 27.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ETON shares. Craig Hallum boosted their price target on shares of Eton Pharmaceuticals from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Friday. HC Wainwright boosted their price target on shares of Eton Pharmaceuticals from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Friday.

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.