Balyasny Asset Management L.P. Invests $158,000 in Eton Pharmaceuticals, Inc. (NASDAQ:ETON)

Balyasny Asset Management L.P. acquired a new stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,850 shares of the company’s stock, valued at approximately $158,000.

Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in Eton Pharmaceuticals in the 4th quarter valued at approximately $86,000. Raymond James Financial Inc. bought a new stake in shares of Eton Pharmaceuticals during the fourth quarter valued at approximately $147,000. Bank of America Corp DE raised its stake in shares of Eton Pharmaceuticals by 5,422.4% in the fourth quarter. Bank of America Corp DE now owns 11,100 shares of the company’s stock valued at $148,000 after purchasing an additional 10,899 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Eton Pharmaceuticals by 29.6% in the fourth quarter. XTX Topco Ltd now owns 14,655 shares of the company’s stock valued at $195,000 after purchasing an additional 3,351 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in Eton Pharmaceuticals in the fourth quarter worth $226,000. Institutional investors own 27.86% of the company’s stock.

Eton Pharmaceuticals Price Performance

Eton Pharmaceuticals stock opened at $18.93 on Monday. The business has a 50 day simple moving average of $14.82 and a 200 day simple moving average of $13.96. Eton Pharmaceuticals, Inc. has a one year low of $3.18 and a one year high of $21.48. The company has a market capitalization of $507.66 million, a PE ratio of -86.05 and a beta of 1.22.

Eton Pharmaceuticals (NASDAQ:ETON) 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). Eton Pharmaceuticals had a negative net margin of 15.81% and a negative return on equity of 36.29%. The company had revenue of $17.28 million for the quarter, compared to the consensus estimate of $14.33 million. Equities analysts anticipate that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ETON has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $33.00 price objective on shares of Eton Pharmaceuticals in a research note on Wednesday, March 19th. B. Riley reissued a “buy” rating and issued a $26.00 target price (up previously from $24.00) on shares of Eton Pharmaceuticals in a research note on Friday. Finally, Craig Hallum increased their price target on shares of 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.