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

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) major shareholder Opaleye Management Inc. acquired 16,852 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was bought at an average cost of $6.77 per share, for a total transaction of $114,088.04. Following the completion of the purchase, the insider now owns 2,720,000 shares of the company’s stock, valued at $18,414,400. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, October 7th, Opaleye Management Inc. acquired 11,248 shares of Eton Pharmaceuticals stock. The stock was bought at an average cost of $7.22 per share, for a total transaction of $81,210.56.
• 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 Stock Performance

Shares of NASDAQ ETON traded up $0.10 during midday trading on Tuesday, hitting $7.40. 346,127 shares of the stock traded hands, compared to its average volume of 78,780. The company has a market cap of $190.11 million, a PE ratio of 181.75 and a beta of 1.31. Eton Pharmaceuticals, Inc. has a one year low of $3.03 and a one year high of $7.66. The business has a 50 day moving average price of $4.78 and a two-hundred day moving average price of $3.96.

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

Institutional Investors Weigh In On Eton Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of ETON. Renaissance Technologies LLC grew its holdings in Eton Pharmaceuticals by 63.8% during the second quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock worth $350,000 after buying an additional 41,469 shares in the last quarter. Stonepine Capital Management LLC bought a new stake in Eton Pharmaceuticals during the second quarter worth $362,000. Thompson Siegel & Walmsley LLC bought a new stake in Eton Pharmaceuticals during the second quarter worth $420,000. Acadian Asset Management LLC grew its holdings in Eton Pharmaceuticals by 13.7% during the first quarter. Acadian Asset Management LLC now owns 156,386 shares of the company’s stock worth $585,000 after buying an additional 18,898 shares in the last quarter. Finally, Aristides Capital LLC bought a new stake in Eton Pharmaceuticals during the second quarter worth $658,000. Institutional investors own 27.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. HC Wainwright lifted their price objective on Eton Pharmaceuticals from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday. Craig Hallum boosted their price target on Eton Pharmaceuticals from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Friday.

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.