Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Sees Large Growth in Short Interest

Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) saw a large growth in short interest during the month of 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. Currently, 3.5% of the shares of the company are sold short. Based on an average daily volume of 307,200 shares, the short-interest ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ETON shares. Craig Hallum boosted their target price on shares of Eton Pharmaceuticals from $26.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. HC Wainwright reissued a "buy" rating and set a $35.00 price target (up previously from $33.00) on shares of Eton Pharmaceuticals in a report on Thursday, May 29th. Finally, B. Riley reiterated a "buy" rating and set a $26.00 price objective (up from $24.00) on shares of Eton Pharmaceuticals in a research report on Friday, May 16th.

Eton Pharmaceuticals Stock Down 0.9%

Shares of ETON stock traded down $0.13 during trading hours on Monday, hitting $14.17. 324,095 shares of the company's stock traded hands, compared to its average volume of 224,421. The stock has a market cap of $380.01 million, a PE ratio of -64.41 and a beta of 1.28. Eton Pharmaceuticals has a 12 month low of $3.18 and a 12 month high of $21.48. The stock's 50 day simple moving average is $16.54 and its 200 day simple moving average is $15.05.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). Eton Pharmaceuticals had a negative return on equity of 36.29% and a negative net margin of 15.81%. The firm had revenue of $17.28 million during the quarter, compared to analyst estimates of $14.33 million. As a group, equities research analysts expect that Eton Pharmaceuticals will post -0.14 EPS for the current fiscal year.

Insider Transactions at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, insider David Krempa sold 6,800 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $14.77, for a total value of $100,436.00. Following the transaction, the insider now directly owns 622,869 shares of the company's stock, valued at $9,199,775.13. This represents a 1.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 34,000 shares of company stock worth $504,318 in the last ninety days. Insiders own 16.03% of the company's stock.

Institutional Investors Weigh In On Eton Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in ETON. Point72 Asia Singapore Pte. Ltd. grew its position 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 period. XTX Topco Ltd increased its stake in Eton Pharmaceuticals by 29.6% in the 4th quarter. XTX Topco Ltd now owns 14,655 shares of the company's stock valued at $195,000 after buying an additional 3,351 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of Eton Pharmaceuticals during the first quarter valued at approximately $53,000. Tower Research Capital LLC TRC purchased a new stake in shares of Eton Pharmaceuticals during the 4th quarter valued at $86,000. Finally, Quantbot Technologies LP bought a new stake in Eton Pharmaceuticals in the first quarter worth about $101,000. 27.86% of the stock is currently owned by institutional investors.

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.

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