Craig Hallum Begins Coverage on Eton Pharmaceuticals (NASDAQ:ETON)

Craig Hallum initiated coverage on shares of Eton Pharmaceuticals (NASDAQ:ETON) in a report released on Monday morning, MarketBeat reports. The firm issued a buy rating and a $8.00 target price on the stock.

Eton Pharmaceuticals Stock Performance

ETON stock opened at $3.72 on Monday. Eton Pharmaceuticals has a 52 week low of $2.42 and a 52 week high of $5.81. The firm’s fifty day moving average is $3.74 and its 200 day moving average is $4.07. The firm has a market cap of $95.57 million, a P/E ratio of -124.00 and a beta of 1.19.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The firm had revenue of $7.31 million during the quarter, compared to the consensus estimate of $7.70 million. Eton Pharmaceuticals had a negative return on equity of 6.21% and a negative net margin of 2.96%.

Institutional Investors Weigh In On Eton Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Westside Investment Management Inc. grew its holdings in Eton Pharmaceuticals by 6.6% in the fourth quarter. Westside Investment Management Inc. now owns 563,110 shares of the company’s stock worth $2,466,000 after purchasing an additional 34,800 shares during the period. EAM Investors LLC purchased a new stake in Eton Pharmaceuticals in the third quarter worth about $1,070,000. Acuitas Investments LLC grew its holdings in Eton Pharmaceuticals by 124.7% in the fourth quarter. Acuitas Investments LLC now owns 492,054 shares of the company’s stock worth $2,155,000 after purchasing an additional 273,054 shares during the period. Bailard Inc. purchased a new stake in Eton Pharmaceuticals in the fourth quarter worth about $99,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Eton Pharmaceuticals in the third quarter worth about $160,000. 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.