Eton Pharmaceuticals (NASDAQ:ETON) Receives Buy Rating from HC Wainwright

Eton Pharmaceuticals (NASDAQ:ETON)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $15.00 price objective on the stock, up from their previous price objective of $11.00. HC Wainwright’s target price would suggest a potential upside of 24.69% from the company’s previous close.

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

Eton Pharmaceuticals Price Performance

Shares of NASDAQ:ETON opened at $12.03 on Tuesday. The business’s 50 day moving average price is $8.10 and its 200-day moving average price is $5.30. The firm has a market capitalization of $310.86 million, a PE ratio of -54.68 and a beta of 1.25. Eton Pharmaceuticals has a 1 year low of $3.03 and a 1 year high of $12.33.

Insider Buying and Selling

In other news, major shareholder Opaleye Management Inc. purchased 11,248 shares of the stock in a transaction dated Monday, October 7th. The stock was acquired at an average cost of $7.22 per share, for a total transaction of $81,210.56. Following the completion of the transaction, the insider now directly owns 2,730,000 shares in the company, valued at approximately $19,710,600. This represents a 0.41 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders acquired 85,600 shares of company stock valued at $462,674. 14.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eton Pharmaceuticals

Several hedge funds have recently bought and sold shares of ETON. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Eton Pharmaceuticals during the third quarter worth $54,000. Jane Street Group LLC acquired a new position in shares of Eton Pharmaceuticals during the third quarter worth about $90,000. Renaissance Technologies LLC increased its stake in shares of 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 during the period. Stonepine Capital Management LLC acquired a new stake in Eton Pharmaceuticals in the second quarter valued at approximately $362,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Eton Pharmaceuticals by 86.6% during the 3rd 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.

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.