Eton Pharmaceuticals’ (ETON) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Eton Pharmaceuticals (NASDAQ:ETON) in a report released on Tuesday morning,Benzinga reports. They currently have a $15.00 price objective on the stock, up from their previous price objective 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 boosted their target price on shares of Eton Pharmaceuticals from $10.00 to $15.00 and gave the company a “buy” rating in a report on Monday, October 28th.

Eton Pharmaceuticals Trading Up 2.3 %

Shares of NASDAQ:ETON opened at $12.74 on Tuesday. The firm has a market cap of $329.15 million, a price-to-earnings ratio of -57.91 and a beta of 1.25. The stock’s 50-day moving average price is $8.37 and its two-hundred day moving average price is $5.42. Eton Pharmaceuticals has a 12-month low of $3.03 and a 12-month high of $12.77.

Insider Activity at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, major shareholder Opaleye Management Inc. bought 57,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average price of $4.65 per share, with a total value of $267,375.00. Following the transaction, the insider now owns 2,660,000 shares in the company, valued at $12,369,000. This trade represents a 2.21 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have bought 85,600 shares of company stock worth $462,674. 14.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ETON. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Eton Pharmaceuticals in the third quarter worth $54,000. Jane Street Group LLC purchased a new stake in Eton Pharmaceuticals during the 3rd quarter worth $90,000. Renaissance Technologies LLC increased its holdings in 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 in the last quarter. Stonepine Capital Management LLC purchased a new position in Eton Pharmaceuticals in the second quarter valued at about $362,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Eton Pharmaceuticals by 86.6% during the third 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 in the last quarter. 27.86% of the stock is 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.