Eton Pharmaceuticals (NASDAQ:ETON) Shares Gap Up - Here's What Happened

Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $20.08, but opened at $21.00. Eton Pharmaceuticals shares last traded at $20.45, with a volume of 69,507 shares.

Analysts Set New Price Targets

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

Eton Pharmaceuticals Stock Performance

The stock has a market cap of $504.71 million, a P/E ratio of -85.55 and a beta of 1.22. The company's 50 day moving average price is $15.81 and its 200-day moving average price is $14.70.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $17.28 million during the quarter, compared to the consensus estimate of $14.33 million. Eton Pharmaceuticals had a negative return on equity of 36.29% and a negative net margin of 15.81%. On average, analysts forecast that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eton Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Acadian Asset Management LLC boosted its holdings in shares of Eton Pharmaceuticals by 61.9% in the 1st quarter. Acadian Asset Management LLC now owns 402,428 shares of the company's stock worth $5,219,000 after buying an additional 153,923 shares during the last quarter. Jane Street Group LLC boosted its stake in Eton Pharmaceuticals by 49.1% in the first quarter. Jane Street Group LLC now owns 95,919 shares of the company's stock valued at $1,245,000 after acquiring an additional 31,596 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Eton Pharmaceuticals by 34.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 175,220 shares of the company's stock valued at $2,274,000 after acquiring an additional 45,341 shares during the period. Millennium Management LLC increased its stake in shares of Eton Pharmaceuticals by 156.3% during the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company's stock worth $4,620,000 after purchasing an additional 217,042 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Eton Pharmaceuticals in the 1st quarter worth approximately $704,000. 27.86% of the stock is owned by hedge funds and other 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.