Eton Pharmaceuticals (NASDAQ:ETON) PT Raised to $10.00

Eton Pharmaceuticals (NASDAQ:ETON) had its price objective raised by equities researchers at Craig Hallum from $8.00 to $10.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price objective points to a potential upside of 42.86% from the company’s previous close.

Separately, HC Wainwright boosted their price objective on Eton Pharmaceuticals from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Friday.

Eton Pharmaceuticals Stock Up 1.3 %

Eton Pharmaceuticals stock opened at $7.00 on Friday. The company has a market capitalization of $179.84 million, a P/E ratio of 175.00 and a beta of 1.31. The firm has a 50 day moving average price of $4.71 and a 200-day moving average price of $3.92. Eton Pharmaceuticals has a twelve month low of $3.03 and a twelve month high of $7.07.

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

Insiders Place Their Bets

In related news, major shareholder Opaleye Management Inc. purchased 57,500 shares of Eton Pharmaceuticals stock in a transaction dated Tuesday, September 10th. The stock was bought 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 $12,369,000. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 14.89% of the company’s stock.

Institutional Investors Weigh In On Eton Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Thompson Siegel & Walmsley LLC purchased a new position in Eton Pharmaceuticals during the second quarter valued at approximately $420,000. Acadian Asset Management LLC boosted its holdings in Eton Pharmaceuticals by 13.7% in the 1st quarter. Acadian Asset Management LLC now owns 156,386 shares of the company’s stock valued at $585,000 after purchasing an additional 18,898 shares during the period. Aristides Capital LLC purchased a new position in shares of Eton Pharmaceuticals during the 2nd quarter valued at $658,000. Opaleye Management Inc. increased its holdings in shares of Eton Pharmaceuticals by 4.1% in the fourth quarter. Opaleye Management Inc. now owns 2,529,887 shares of the company’s stock worth $11,081,000 after purchasing an additional 99,617 shares during the period. Finally, Nantahala Capital Management LLC purchased a new stake in shares of Eton Pharmaceuticals in the second quarter worth $3,095,000. 27.86% of the stock is owned by hedge funds and other institutional investors.

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.