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

HC Wainwright reiterated their buy rating on shares of Eton Pharmaceuticals (NASDAQ:ETON) in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a $11.00 target price on the stock.

Separately, Craig Hallum increased their price target on 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 Up 0.1 %

Shares of ETON stock traded up $0.01 on Wednesday, reaching $10.61. The stock had a trading volume of 46,622 shares, compared to its average volume of 92,112. The firm’s 50-day moving average is $7.17 and its two-hundred day moving average is $4.90. The firm has a market capitalization of $274.12 million, a price-to-earnings ratio of -48.18 and a beta of 1.25. Eton Pharmaceuticals has a 12 month low of $3.03 and a 12 month high of $11.11.

Insiders Place Their Bets

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 stock was acquired at an average price of $6.77 per share, for a total transaction of $114,088.04. Following the purchase, the insider now directly 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have bought 85,600 shares of company stock worth $462,674 in the last 90 days. Company insiders own 14.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Nantahala Capital Management LLC acquired a new stake in Eton Pharmaceuticals during the second quarter worth about $3,095,000. Aristides Capital LLC acquired a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth approximately $658,000. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth approximately $420,000. Stonepine Capital Management LLC bought a new position in Eton Pharmaceuticals in the second quarter valued at approximately $362,000. Finally, Renaissance Technologies LLC lifted its stake 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 purchasing an additional 41,469 shares during the last quarter. Institutional investors 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.