Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Short Interest Up 5.6% in September

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 75,500 shares, an increase of 5.6% from the August 31st total of 71,500 shares. Based on an average trading volume of 86,500 shares, the short-interest ratio is presently 0.9 days. Approximately 0.3% of the company’s shares are short sold.

Insider Activity

In other Eton Pharmaceuticals news, major shareholder Opaleye Management Inc. purchased 57,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of $4.65 per share, with a total value of $267,375.00. Following the transaction, the insider now owns 2,660,000 shares in the company, valued at $12,369,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.89% of the company’s stock.

Institutional Trading of Eton Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Opaleye Management Inc. grew its holdings in Eton Pharmaceuticals by 4.1% during the 4th quarter. Opaleye Management Inc. now owns 2,529,887 shares of the company’s stock worth $11,081,000 after acquiring an additional 99,617 shares in the last quarter. Westside Investment Management Inc. grew its stake in Eton Pharmaceuticals by 1.9% in the first quarter. Westside Investment Management Inc. now owns 573,960 shares of the company’s stock worth $2,152,000 after purchasing an additional 10,850 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Eton Pharmaceuticals by 13.7% in the first quarter. Acadian Asset Management LLC now owns 156,386 shares of the company’s stock valued at $585,000 after buying an additional 18,898 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Eton Pharmaceuticals during the second quarter valued at approximately $420,000. Finally, Renaissance Technologies LLC lifted its holdings in Eton Pharmaceuticals by 63.8% during the 2nd quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock worth $350,000 after buying an additional 41,469 shares during the last quarter. Institutional investors own 27.86% of the company’s stock.

Eton Pharmaceuticals Price Performance

NASDAQ:ETON opened at $5.91 on Wednesday. The firm has a 50-day moving average of $4.52 and a two-hundred day moving average of $3.86. The stock has a market cap of $151.83 million, a P/E ratio of 147.75 and a beta of 1.30. Eton Pharmaceuticals has a 1-year low of $3.03 and a 1-year high of $6.25.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05). Eton Pharmaceuticals had a negative net margin of 21.31% and a negative return on equity of 43.62%. The business had revenue of $9.07 million during the quarter, compared to analysts’ expectations of $10.00 million. As a group, equities analysts expect that Eton Pharmaceuticals will post -0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Eton Pharmaceuticals in a research report on Wednesday, September 4th.

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.