Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Short Interest Down 18.0% in February

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the target of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 289,400 shares, a decrease of 18.0% from the February 13th total of 353,000 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 263,000 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Trading of Eton Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Eton Pharmaceuticals by 86.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,014 shares of the company’s stock worth $390,000 after purchasing an additional 30,167 shares during the last quarter. Wasatch Advisors LP bought a new stake in shares of Eton Pharmaceuticals in the 3rd quarter valued at approximately $1,431,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Eton Pharmaceuticals in the 3rd quarter valued at approximately $54,000. Parkman Healthcare Partners LLC grew its position in Eton Pharmaceuticals by 2.8% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 260,226 shares of the company’s stock worth $1,561,000 after acquiring an additional 7,029 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Eton Pharmaceuticals during the 3rd quarter worth approximately $90,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ETON. B. Riley started coverage on Eton Pharmaceuticals in a report on Friday, January 10th. They set a “buy” rating and a $21.00 price target for the company. Craig Hallum lifted their price objective on Eton Pharmaceuticals from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, HC Wainwright raised their target price on Eton Pharmaceuticals from $17.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd.

Eton Pharmaceuticals Price Performance

Shares of NASDAQ ETON traded down $0.61 during mid-day trading on Tuesday, hitting $14.68. The company had a trading volume of 728,872 shares, compared to its average volume of 158,232. The firm’s 50 day simple moving average is $15.40 and its two-hundred day simple moving average is $11.35. The stock has a market cap of $382.43 million, a price-to-earnings ratio of -66.73 and a beta of 1.37. Eton Pharmaceuticals has a 12 month low of $3.03 and a 12 month high of $18.41.

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

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.