Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Sees Large Decrease in Short Interest

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 235,600 shares, a drop of 18.6% from the February 28th total of 289,400 shares. Based on an average daily volume of 278,300 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.1% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ETON. Craig Hallum boosted their target price on shares of Eton Pharmaceuticals from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, March 19th. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of Eton Pharmaceuticals in a report on Wednesday, March 19th. Finally, B. Riley restated a “buy” rating and issued a $24.00 target price (up from $21.00) on shares of Eton Pharmaceuticals in a report on Wednesday, March 19th.

Eton Pharmaceuticals Price Performance

Eton Pharmaceuticals stock opened at $12.98 on Tuesday. The company has a market cap of $348.10 million, a P/E ratio of -59.00 and a beta of 1.37. Eton Pharmaceuticals has a fifty-two week low of $3.03 and a fifty-two week high of $18.41. The firm’s 50 day simple moving average is $15.51 and its 200-day simple moving average is $12.01.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $11.65 million for the quarter, compared to analysts’ expectations of $10.53 million. Eton Pharmaceuticals had a negative net margin of 15.81% and a negative return on equity of 36.29%. On average, analysts expect that Eton Pharmaceuticals will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Nantahala Capital Management LLC grew its stake in Eton Pharmaceuticals by 12.0% during the 4th quarter. Nantahala Capital Management LLC now owns 1,118,483 shares of the company’s stock valued at $14,898,000 after acquiring an additional 119,750 shares in the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Eton Pharmaceuticals by 5.7% during the third quarter. Westside Investment Management Inc. now owns 618,675 shares of the company’s stock worth $3,711,000 after purchasing an additional 33,275 shares during the period. Mink Brook Asset Management LLC acquired a new stake in shares of Eton Pharmaceuticals during the fourth quarter worth approximately $6,071,000. Cannell Capital LLC purchased a new position in Eton Pharmaceuticals during the fourth quarter valued at approximately $5,079,000. Finally, Parkman Healthcare Partners LLC increased its stake in Eton Pharmaceuticals by 6.4% in the 4th quarter. Parkman Healthcare Partners LLC now owns 276,890 shares of the company’s stock valued at $3,688,000 after buying an additional 16,664 shares during the period. 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.