Craig Hallum Boosts Eton Pharmaceuticals (NASDAQ:ETON) Price Target to $10.00

Eton Pharmaceuticals (NASDAQ:ETON) had its price target raised by equities researchers at Craig Hallum from $8.00 to $10.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s target price would suggest a potential upside of 42.86% from the stock’s previous close.

Separately, HC Wainwright boosted their target price on Eton Pharmaceuticals from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday.

Eton Pharmaceuticals Price Performance

Shares of NASDAQ:ETON opened at $7.00 on Friday. Eton Pharmaceuticals has a one year low of $3.03 and a one year high of $7.07. The firm has a market capitalization of $179.84 million, a price-to-earnings ratio of 175.00 and a beta of 1.31. The company’s fifty day moving average price is $4.71 and its 200-day moving average price is $3.92.

Eton Pharmaceuticals (NASDAQ:ETON) last released its 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 firm had revenue of $9.07 million during the quarter, compared to the consensus estimate of $10.00 million. As a group, equities research analysts expect that Eton Pharmaceuticals will post -0.15 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Opaleye Management Inc. bought 57,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was bought at an average price of $4.65 per share, with a total value of $267,375.00. Following the purchase, the insider now owns 2,660,000 shares in the company, valued at approximately $12,369,000. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 14.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eton Pharmaceuticals

A number of hedge funds have recently modified their holdings of ETON. Westside Investment Management Inc. boosted its holdings in shares of Eton Pharmaceuticals by 1.9% during 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 during the period. Acadian Asset Management LLC lifted its holdings in Eton Pharmaceuticals by 13.7% in the 1st quarter. Acadian Asset Management LLC now owns 156,386 shares of the company’s stock worth $585,000 after buying an additional 18,898 shares during the period. Renaissance Technologies LLC grew its position 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 worth $350,000 after buying an additional 41,469 shares during the last quarter. Opaleye Management Inc. increased its stake in shares of Eton Pharmaceuticals by 4.1% during the fourth quarter. Opaleye Management Inc. now owns 2,529,887 shares of the company’s stock valued at $11,081,000 after buying an additional 99,617 shares during the period. Finally, Stonepine Capital Management LLC purchased a new position in shares of Eton Pharmaceuticals during the second quarter valued at approximately $362,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

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.