Eton Pharmaceuticals’ (ETON) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Eton Pharmaceuticals (NASDAQ:ETON) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $15.00 target price on the stock, up from their prior target price of $11.00. HC Wainwright also issued estimates for Eton Pharmaceuticals’ Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.17) EPS, Q1 2025 earnings at $0.05 EPS, Q2 2025 earnings at $0.07 EPS, Q3 2025 earnings at $0.11 EPS, FY2025 earnings at $0.37 EPS, FY2026 earnings at $0.81 EPS, FY2027 earnings at $1.25 EPS and FY2028 earnings at $1.58 EPS.

Separately, Craig Hallum raised their price target on Eton Pharmaceuticals from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, October 28th.

Eton Pharmaceuticals Stock Performance

ETON opened at $13.53 on Tuesday. The company has a market cap of $349.62 million, a PE ratio of -57.91 and a beta of 1.25. The stock has a 50-day moving average of $8.51 and a 200-day moving average of $5.47. Eton Pharmaceuticals has a 52-week low of $3.03 and a 52-week high of $13.72.

Insider Buying and Selling at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, major shareholder Opaleye Management Inc. purchased 11,248 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were purchased at an average price of $7.22 per share, for a total transaction of $81,210.56. Following the completion of the purchase, the insider now directly owns 2,730,000 shares of the company’s stock, valued at approximately $19,710,600. This represents a 0.41 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought a total of 85,600 shares of company stock valued at $462,674 in the last quarter. Corporate insiders own 14.89% of the company’s stock.

Hedge Funds Weigh In On Eton Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Eton Pharmaceuticals in the 3rd quarter valued at approximately $54,000. Jane Street Group LLC acquired a new stake in Eton Pharmaceuticals in the 3rd quarter valued at $90,000. Renaissance Technologies LLC boosted its stake in Eton Pharmaceuticals by 63.8% in the 2nd quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock valued at $350,000 after buying an additional 41,469 shares in the last quarter. Stonepine Capital Management LLC bought a new stake in Eton Pharmaceuticals in the second quarter valued at $362,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Eton Pharmaceuticals by 86.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,014 shares of the company’s stock worth $390,000 after acquiring an additional 30,167 shares in the last quarter. Institutional investors and hedge funds own 27.86% of the company’s stock.

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.