Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Sees Significant Increase in Short Interest

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 206,500 shares, a growth of 7.6% from the October 31st total of 191,900 shares. Based on an average trading volume of 202,000 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.8% of the company’s stock are short sold.

Insider Buying and Selling

In other Eton Pharmaceuticals news, major shareholder Opaleye Management Inc. acquired 16,852 shares of the company’s stock in a transaction on Friday, October 4th. The shares were 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 in the company, valued at $18,414,400. This trade represents a 0.62 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have purchased 85,600 shares of company stock worth $462,674 in the last ninety days. 14.89% of the stock is owned by corporate insiders.

Institutional Trading of Eton Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Eton Pharmaceuticals during the third quarter worth about $54,000. Jane Street Group LLC purchased a new stake in Eton Pharmaceuticals during the third quarter worth about $90,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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 buying an additional 30,167 shares in the last quarter. Renaissance Technologies LLC boosted 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. Finally, Stonepine Capital Management LLC purchased a new stake in Eton Pharmaceuticals during the second quarter worth about $362,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ETON. HC Wainwright restated a “buy” rating and issued a $15.00 price objective (up from $11.00) on shares of Eton Pharmaceuticals in a research note on Tuesday, November 26th. Craig Hallum lifted their price objective on shares of Eton Pharmaceuticals from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, October 28th.

Eton Pharmaceuticals Stock Down 7.9 %

Shares of NASDAQ:ETON opened at $12.46 on Tuesday. The company has a market cap of $321.97 million, a price-to-earnings ratio of -57.14 and a beta of 1.25. The firm’s 50-day simple moving average is $8.67 and its 200-day simple moving average is $5.56. Eton Pharmaceuticals has a fifty-two week low of $3.03 and a fifty-two week high of $13.98.

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.