Acuitas Investments LLC Lowers Holdings in Eton Pharmaceuticals, Inc. (NASDAQ:ETON)

Acuitas Investments LLC reduced its holdings in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 68.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 185,824 shares of the company’s stock after selling 394,136 shares during the quarter. Eton Pharmaceuticals accounts for about 2.1% of Acuitas Investments LLC’s investment portfolio, making the stock its 24th largest position. Acuitas Investments LLC owned 0.71% of Eton Pharmaceuticals worth $2,475,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ETON. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 valued at $390,000 after buying an additional 30,167 shares in the last quarter. Wasatch Advisors LP purchased a new position in Eton Pharmaceuticals during the 3rd quarter valued at about $1,431,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Eton Pharmaceuticals in the 3rd quarter worth approximately $54,000. Parkman Healthcare Partners LLC increased 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 valued at $1,561,000 after purchasing an additional 7,029 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Eton Pharmaceuticals during the third quarter valued at about $90,000. 27.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ETON has been the topic of several recent research reports. Craig Hallum upped their price target on Eton Pharmaceuticals from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright raised their price objective on shares of Eton Pharmaceuticals from $17.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, B. Riley initiated coverage on Eton Pharmaceuticals in a research note on Friday, January 10th. They issued a “buy” rating and a $21.00 price target for the company.

Eton Pharmaceuticals Stock Performance

Shares of NASDAQ:ETON opened at $16.42 on Tuesday. Eton Pharmaceuticals, Inc. has a 52-week low of $3.03 and a 52-week high of $18.41. The stock has a market capitalization of $427.74 million, a price-to-earnings ratio of -74.64 and a beta of 1.40. The stock’s 50-day simple moving average is $14.53 and its two-hundred day simple moving average is $9.82.

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.