Short Interest in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Increases By 32.6%

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the recipient of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 273,900 shares, a growth of 32.6% from the November 15th total of 206,500 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average trading volume of 219,900 shares, the days-to-cover ratio is currently 1.2 days.

Analysts Set New Price Targets

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

Eton Pharmaceuticals Stock Performance

Shares of ETON traded up $0.19 during mid-day trading on Friday, hitting $12.35. 117,055 shares of the company were exchanged, compared to its average volume of 107,284. Eton Pharmaceuticals has a 1-year low of $3.03 and a 1-year high of $13.98. The company has a 50 day moving average of $9.91 and a 200-day moving average of $6.15. The stock has a market cap of $319.12 million, a price-to-earnings ratio of -56.14 and a beta of 1.39.

Insider Transactions at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, major shareholder Opaleye Management Inc. acquired 11,248 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were bought at an average cost of $7.22 per share, with a total value of $81,210.56. Following the completion of the acquisition, the insider now directly owns 2,730,000 shares in the company, valued at $19,710,600. This represents a 0.41 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 14.89% of the company’s stock.

Institutional Trading of Eton Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the company. Thompson Siegel & Walmsley LLC acquired a new position in Eton Pharmaceuticals during the second quarter worth $420,000. Renaissance Technologies LLC grew its holdings in shares of Eton Pharmaceuticals by 63.8% in the second quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock valued at $350,000 after purchasing an additional 41,469 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in Eton Pharmaceuticals in the second quarter valued at $3,095,000. Stonepine Capital Management LLC purchased a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth $362,000. Finally, Aristides Capital LLC acquired a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth about $658,000. 27.86% of the stock is owned by institutional investors and hedge funds.

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.