Paradigm Capital Management Inc. NY Sells 100,000 Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON)

Paradigm Capital Management Inc. NY trimmed its stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) by 33.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 200,000 shares of the company's stock after selling 100,000 shares during the quarter. Paradigm Capital Management Inc. NY owned approximately 0.77% of Eton Pharmaceuticals worth $2,664,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ETON. Mink Brook Asset Management LLC acquired a new position in shares of Eton Pharmaceuticals during the fourth quarter valued at $6,071,000. Cannell Capital LLC bought a new position in shares of Eton Pharmaceuticals in the fourth quarter valued at approximately $5,079,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Eton Pharmaceuticals by 230.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 214,878 shares of the company's stock valued at $2,862,000 after acquiring an additional 149,864 shares during the period. Millennium Management LLC acquired a new position in shares of Eton Pharmaceuticals during the fourth quarter valued at approximately $1,850,000. Finally, Nantahala Capital Management LLC lifted its position in Eton Pharmaceuticals by 12.0% in the fourth quarter. Nantahala Capital Management LLC now owns 1,118,483 shares of the company's stock worth $14,898,000 after purchasing an additional 119,750 shares during the period. Institutional investors and hedge funds own 27.86% of the company's stock.

Eton Pharmaceuticals Price Performance

Shares of NASDAQ ETON traded down $0.44 during trading hours on Friday, reaching $19.81. The stock had a trading volume of 271,640 shares, compared to its average volume of 196,873. The company has a market cap of $531.26 million, a price-to-earnings ratio of -90.05 and a beta of 1.22. Eton Pharmaceuticals, Inc. has a twelve month low of $3.18 and a twelve month high of $21.48. The business's fifty day moving average is $15.31 and its two-hundred day moving average is $14.32.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. HC Wainwright reissued a "buy" rating and set a $33.00 target price on shares of Eton Pharmaceuticals in a research note on Wednesday, March 19th. B. Riley reiterated a "buy" rating and set a $26.00 price objective (up previously from $24.00) on shares of Eton Pharmaceuticals in a research report on Friday, May 16th. Finally, Craig Hallum boosted their target price on Eton Pharmaceuticals from $26.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th.

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.