Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Short Interest Down 18.6% in March

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

Eton Pharmaceuticals Stock Performance

Shares of ETON opened at $13.26 on Thursday. The firm has a market capitalization of $355.61 million, a P/E ratio of -60.27 and a beta of 1.37. Eton Pharmaceuticals has a 52 week low of $3.03 and a 52 week high of $18.41. The stock has a 50 day moving average price of $15.43 and a two-hundred day moving average price of $12.07.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ETON. HC Wainwright reiterated a “buy” rating and set a $33.00 price objective on shares of Eton Pharmaceuticals in a report on Wednesday, March 19th. Craig Hallum upped their price target on Eton Pharmaceuticals from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, March 19th. Finally, B. Riley restated a “buy” rating and set a $24.00 price objective (up previously from $21.00) on shares of Eton Pharmaceuticals in a report on Wednesday, March 19th.

Institutional Trading of Eton Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in ETON. Jefferies Financial Group Inc. purchased a new position in Eton Pharmaceuticals during the fourth quarter worth about $133,000. Two Sigma Advisers LP purchased a new position in shares of Eton Pharmaceuticals in the 4th quarter worth approximately $662,000. Two Sigma Investments LP bought a new position in shares of Eton Pharmaceuticals in the fourth quarter valued at approximately $1,498,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Eton Pharmaceuticals by 18.3% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,561 shares of the company’s stock valued at $141,000 after acquiring an additional 1,634 shares during the last quarter. Finally, Parkman Healthcare Partners LLC boosted its position in Eton Pharmaceuticals by 6.4% in the fourth quarter. Parkman Healthcare Partners LLC now owns 276,890 shares of the company’s stock worth $3,688,000 after purchasing an additional 16,664 shares during the last quarter. Hedge funds and other institutional investors own 27.86% of the company’s stock.

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.