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

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 343,900 shares, a growth of 46.0% from the March 15th total of 235,600 shares. Currently, 1.6% of the company’s stock are sold short. Based on an average trading volume of 287,400 shares, the days-to-cover ratio is presently 1.2 days.

Eton Pharmaceuticals Stock Up 1.8 %

NASDAQ:ETON opened at $14.34 on Friday. The company’s 50 day moving average is $14.19 and its 200-day moving average is $12.71. The firm has a market cap of $384.57 million, a price-to-earnings ratio of -65.18 and a beta of 1.34. Eton Pharmaceuticals has a 12 month low of $3.11 and a 12 month high of $18.41.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Eton Pharmaceuticals

Large investors have recently made changes to their positions in the business. Baader Bank Aktiengesellschaft bought a new position in Eton Pharmaceuticals in the 4th quarter worth approximately $373,000. Jane Street Group LLC acquired a new stake in shares of Eton Pharmaceuticals in the third quarter worth $90,000. Geode Capital Management LLC increased its position in Eton Pharmaceuticals by 13.5% during the third quarter. Geode Capital Management LLC now owns 272,696 shares of the company’s stock worth $1,637,000 after acquiring an additional 32,365 shares during the period. Anchor Capital Advisors LLC acquired a new position in Eton Pharmaceuticals during the 4th quarter valued at $805,000. Finally, Raymond James Financial Inc. bought a new stake in Eton Pharmaceuticals in the 4th quarter valued at $147,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

About Eton Pharmaceuticals

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.