Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Sees Significant Drop in Short Interest

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 235,600 shares, a drop of 18.6% from the February 28th total of 289,400 shares. Based on an average daily volume of 278,300 shares, the short-interest ratio is presently 0.8 days. Currently, 1.1% of the company’s stock are sold short.

Eton Pharmaceuticals Stock Down 0.3 %

Shares of ETON stock opened at $12.98 on Tuesday. The company has a market cap of $348.10 million, a P/E ratio of -59.00 and a beta of 1.37. The business has a 50 day moving average of $15.51 and a two-hundred day moving average of $12.01. Eton Pharmaceuticals has a 52 week low of $3.03 and a 52 week high of $18.41.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). Eton Pharmaceuticals had a negative return on equity of 36.29% and a negative net margin of 15.81%. The business had revenue of $11.65 million during the quarter, compared to analyst estimates of $10.53 million. Analysts expect that Eton Pharmaceuticals will post -0.14 EPS for the current fiscal year.

Institutional Trading of Eton Pharmaceuticals

A number of large investors have recently modified their holdings of ETON. Nantahala Capital Management LLC boosted its stake in Eton Pharmaceuticals by 12.0% during the 4th quarter. Nantahala Capital Management LLC now owns 1,118,483 shares of the company’s stock valued at $14,898,000 after purchasing an additional 119,750 shares during the period. Westside Investment Management Inc. boosted its position in shares of Eton Pharmaceuticals by 5.7% during the third quarter. Westside Investment Management Inc. now owns 618,675 shares of the company’s stock worth $3,711,000 after buying an additional 33,275 shares during the period. Mink Brook Asset Management LLC acquired a new position in shares of Eton Pharmaceuticals during the fourth quarter worth approximately $6,071,000. Cannell Capital LLC bought a new position in Eton Pharmaceuticals in the 4th quarter worth approximately $5,079,000. Finally, Parkman Healthcare Partners LLC increased its position in Eton Pharmaceuticals by 6.4% in the 4th quarter. Parkman Healthcare Partners LLC now owns 276,890 shares of the company’s stock valued at $3,688,000 after acquiring an additional 16,664 shares during the period. Institutional investors and hedge funds own 27.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ETON. Craig Hallum boosted their price objective on Eton Pharmaceuticals from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. B. Riley reissued a “buy” rating and set a $24.00 price target (up from $21.00) on shares of Eton Pharmaceuticals in a research report on Wednesday, March 19th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Eton Pharmaceuticals in a report on Wednesday, March 19th.

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.