Opaleye Management Inc. Purchases 57,500 Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Stock

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) major shareholder Opaleye Management Inc. purchased 57,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average cost of $4.65 per share, for a total transaction of $267,375.00. Following the completion of the transaction, the insider now owns 2,660,000 shares in the company, valued at approximately $12,369,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Eton Pharmaceuticals Stock Up 6.8 %

Shares of NASDAQ ETON opened at $5.15 on Friday. The firm’s 50-day moving average price is $3.97 and its two-hundred day moving average price is $3.76. Eton Pharmaceuticals, Inc. has a 52-week low of $3.03 and a 52-week high of $5.81. The stock has a market capitalization of $132.31 million, a P/E ratio of 128.75 and a beta of 1.30.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.05). The company had revenue of $9.07 million during the quarter, compared to the consensus estimate of $10.00 million. Eton Pharmaceuticals had a negative return on equity of 43.62% and a negative net margin of 21.31%. As a group, equities research analysts expect that Eton Pharmaceuticals, Inc. will post -0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Eton Pharmaceuticals in a report on Wednesday, September 4th.

Hedge Funds Weigh In On Eton Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Opaleye Management Inc. increased its holdings in shares of Eton Pharmaceuticals by 4.1% in the 4th quarter. Opaleye Management Inc. now owns 2,529,887 shares of the company’s stock worth $11,081,000 after acquiring an additional 99,617 shares during the period. Nantahala Capital Management LLC acquired a new position in Eton Pharmaceuticals during the 2nd quarter valued at about $3,095,000. Westside Investment Management Inc. grew its position in Eton Pharmaceuticals by 2.0% in the 2nd quarter. Westside Investment Management Inc. now owns 585,400 shares of the company’s stock worth $1,926,000 after purchasing an additional 11,440 shares during the last quarter. Aristides Capital LLC acquired a new stake in shares of Eton Pharmaceuticals in the second quarter valued at approximately $658,000. Finally, Acadian Asset Management LLC raised its holdings in shares of Eton Pharmaceuticals by 13.7% during the first quarter. Acadian Asset Management LLC now owns 156,386 shares of the company’s stock valued at $585,000 after buying an additional 18,898 shares during 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.