Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 823,800 shares, a growth of 39.7% from the May 15th total of 589,500 shares. Based on an average daily volume of 307,200 shares, the days-to-cover ratio is currently 2.7 days. Approximately 3.5% of the shares of the company are sold short.
Eton Pharmaceuticals Price Performance
Shares of ETON traded up $0.09 during midday trading on Thursday, hitting $13.70. The company's stock had a trading volume of 341,413 shares, compared to its average volume of 227,647. The company has a quick ratio of 1.43, a current ratio of 1.97 and a debt-to-equity ratio of 1.23. Eton Pharmaceuticals has a one year low of $3.18 and a one year high of $21.48. The stock has a market capitalization of $367.43 million, a price-to-earnings ratio of -76.11 and a beta of 1.28. The company's fifty day simple moving average is $16.63 and its two-hundred day simple moving average is $15.03.
Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). Eton Pharmaceuticals had a negative net margin of 9.49% and a negative return on equity of 3.15%. The business had revenue of $17.28 million during the quarter, compared to analyst estimates of $14.33 million. As a group, equities analysts expect that Eton Pharmaceuticals will post -0.14 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on ETON shares. Craig Hallum raised their price target on Eton Pharmaceuticals from $26.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. B. Riley reissued a "buy" rating and issued a $26.00 target price (up from $24.00) on shares of Eton Pharmaceuticals in a report on Friday, May 16th. Finally, HC Wainwright restated a "buy" rating and issued a $35.00 target price (up from $33.00) on shares of Eton Pharmaceuticals in a research report on Thursday, May 29th.
Check Out Our Latest Research Report on ETON
Insiders Place Their Bets
In other Eton Pharmaceuticals news, insider David Krempa sold 6,800 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $14.77, for a total transaction of $100,436.00. Following the transaction, the insider now owns 622,869 shares in the company, valued at $9,199,775.13. This trade represents a 1.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 34,000 shares of company stock worth $504,318 in the last quarter. 16.03% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Eton Pharmaceuticals
A number of hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. lifted its stake in Eton Pharmaceuticals by 18.3% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,561 shares of the company's stock valued at $141,000 after purchasing an additional 1,634 shares during the last quarter. XTX Topco Ltd grew its stake in shares of Eton Pharmaceuticals by 29.6% during the fourth quarter. XTX Topco Ltd now owns 14,655 shares of the company's stock worth $195,000 after buying an additional 3,351 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of Eton Pharmaceuticals during the first quarter worth $53,000. Tower Research Capital LLC TRC bought a new position in shares of Eton Pharmaceuticals in the 4th quarter valued at $86,000. Finally, Quantbot Technologies LP bought a new position in shares of Eton Pharmaceuticals in the 1st quarter valued at $101,000. 27.86% of the stock is currently owned by institutional investors and hedge funds.
About Eton Pharmaceuticals
(
Get Free Report)
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.
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