Opaleye Management Inc. Acquires 16,852 Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Stock

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) major shareholder Opaleye Management Inc. bought 16,852 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was bought 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 in the company, valued at $18,414,400. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Monday, October 7th, Opaleye Management Inc. acquired 11,248 shares of Eton Pharmaceuticals stock. The shares were bought at an average price of $7.22 per share, with a total value of $81,210.56.
• On Tuesday, September 10th, Opaleye Management Inc. acquired 57,500 shares of Eton Pharmaceuticals stock. The shares were bought at an average cost of $4.65 per share, for a total transaction of $267,375.00.

Eton Pharmaceuticals Price Performance

Shares of Eton Pharmaceuticals stock opened at $7.83 on Friday. The stock has a market cap of $201.16 million, a PE ratio of 195.75 and a beta of 1.31. The firm has a fifty day moving average price of $5.03 and a 200 day moving average price of $4.03. Eton Pharmaceuticals, Inc. has a 1 year low of $3.03 and a 1 year high of $7.89.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $9.07 million during the quarter, compared to analyst estimates of $10.00 million. As a group, equities analysts expect that Eton Pharmaceuticals, Inc. will post -0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ETON. HC Wainwright lifted their price target on Eton Pharmaceuticals from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Craig Hallum lifted their target price on Eton Pharmaceuticals from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, October 4th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its stake in shares of 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 purchasing an additional 41,469 shares during the period. Stonepine Capital Management LLC purchased a new stake in Eton Pharmaceuticals during the second quarter worth $362,000. Thompson Siegel & Walmsley LLC acquired a new stake in Eton Pharmaceuticals during the second quarter valued at $420,000. 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 in the last quarter. Finally, Aristides Capital LLC acquired a new position in shares of Eton Pharmaceuticals in the second quarter worth about $658,000. 27.86% of the stock is owned by institutional investors and hedge funds.

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.