Eton Pharmaceuticals’ (ETON) Buy Rating Reaffirmed at HC Wainwright

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

Separately, Craig Hallum boosted their target price 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 Trading Up 7.1 %

Shares of NASDAQ:ETON opened at $12.03 on Tuesday. The firm has a 50 day simple moving average of $8.10 and a 200-day simple moving average of $5.30. Eton Pharmaceuticals has a twelve month low of $3.03 and a twelve month high of $12.33. The company has a market capitalization of $310.86 million, a PE ratio of -54.68 and a beta of 1.25.

Insider Activity at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, major shareholder Opaleye Management Inc. bought 57,500 shares of Eton Pharmaceuticals stock in a transaction on Tuesday, September 10th. The stock was bought at an average price of $4.65 per share, with a total value of $267,375.00. Following the completion of the acquisition, the insider now owns 2,660,000 shares in the company, valued at $12,369,000. The trade was a 2.21 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 85,600 shares of company stock worth $462,674 in the last quarter. Company insiders own 14.89% of the company’s stock.

Hedge Funds Weigh In On Eton Pharmaceuticals

A number of large investors have recently made changes to their positions in ETON. Point72 Asia Singapore Pte. Ltd. acquired a new position in Eton Pharmaceuticals during the third quarter worth about $54,000. Jane Street Group LLC purchased a new stake in shares of Eton Pharmaceuticals during the 3rd quarter worth approximately $90,000. Renaissance Technologies LLC grew its holdings in shares of Eton Pharmaceuticals by 63.8% in the 2nd quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock worth $350,000 after acquiring an additional 41,469 shares during the period. Stonepine Capital Management LLC purchased a new position in Eton Pharmaceuticals in the 2nd quarter valued at approximately $362,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Eton Pharmaceuticals by 86.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,014 shares of the company’s stock worth $390,000 after purchasing an additional 30,167 shares during the last quarter. Hedge funds and other institutional investors 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.