HC Wainwright Reaffirms Buy Rating for Eton Pharmaceuticals (NASDAQ:ETON)

HC Wainwright restated their buy rating on shares of Eton Pharmaceuticals (NASDAQ:ETON) in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a $15.00 target price on the stock, up from their prior target price of $11.00. HC Wainwright also issued estimates for Eton Pharmaceuticals’ Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.17) EPS, Q1 2025 earnings at $0.05 EPS, Q2 2025 earnings at $0.07 EPS, Q3 2025 earnings at $0.11 EPS, FY2025 earnings at $0.37 EPS, FY2026 earnings at $0.81 EPS, FY2027 earnings at $1.25 EPS and FY2028 earnings at $1.58 EPS.

Separately, Craig Hallum raised their target price on Eton Pharmaceuticals from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, October 28th.

Eton Pharmaceuticals Price Performance

NASDAQ ETON opened at $13.53 on Tuesday. The stock’s 50 day simple moving average is $8.51 and its 200 day simple moving average is $5.47. Eton Pharmaceuticals has a one year low of $3.03 and a one year high of $13.72. The firm has a market cap of $349.62 million, a PE ratio of -57.91 and a beta of 1.25.

Insider Activity

In other news, major shareholder Opaleye Management Inc. purchased 16,852 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were acquired at an average price of $6.77 per share, with a total value of $114,088.04. Following the completion of the purchase, the insider now directly owns 2,720,000 shares of the company’s stock, valued at $18,414,400. The trade was a 0.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 85,600 shares of company stock valued at $462,674 over the last three months. 14.89% of the stock is owned by insiders.

Institutional Trading of Eton Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ETON. Westside Investment Management Inc. boosted its stake in Eton Pharmaceuticals by 2.0% in the second quarter. Westside Investment Management Inc. now owns 585,400 shares of the company’s stock valued at $1,926,000 after acquiring an additional 11,440 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at $420,000. Renaissance Technologies LLC lifted its stake in shares of Eton Pharmaceuticals by 63.8% in the 2nd quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock valued at $350,000 after purchasing an additional 41,469 shares during the period. Nantahala Capital Management LLC bought a new position in shares of Eton Pharmaceuticals in the 2nd quarter worth $3,095,000. Finally, Stonepine Capital Management LLC acquired a new stake in shares of Eton Pharmaceuticals during the second quarter worth $362,000. 27.86% of the stock is currently owned by institutional investors and hedge funds.

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.