Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Short Interest Update

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the recipient of a significant increase in short interest in November. As of November 30th, there was short interest totalling 273,900 shares, an increase of 32.6% from the November 15th total of 206,500 shares. Based on an average daily trading volume, of 219,900 shares, the short-interest ratio is currently 1.2 days. Currently, 1.1% of the shares of the stock are sold short.

Eton Pharmaceuticals Stock Up 1.6 %

Shares of Eton Pharmaceuticals stock traded up $0.19 during trading on Friday, hitting $12.35. 117,055 shares of the company were exchanged, compared to its average volume of 107,284. Eton Pharmaceuticals has a fifty-two week low of $3.03 and a fifty-two week high of $13.98. The firm has a 50 day moving average price of $9.91 and a 200 day moving average price of $6.15. The stock has a market capitalization of $319.12 million, a price-to-earnings ratio of -56.14 and a beta of 1.39.

Insider Buying and Selling

In other news, major shareholder Opaleye Management Inc. acquired 16,852 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was purchased at an average cost of $6.77 per share, with a total value of $114,088.04. Following the purchase, the insider now directly owns 2,720,000 shares of the company’s stock, valued at approximately $18,414,400. This trade represents a 0.62 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 14.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Eton Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Nantahala Capital Management LLC purchased a new stake in shares of Eton Pharmaceuticals in the second quarter valued at $3,095,000. Wasatch Advisors LP acquired a new position in Eton Pharmaceuticals in the 3rd quarter valued at about $1,431,000. Aristides Capital LLC acquired a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth about $658,000. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth about $420,000. Finally, Stonepine Capital Management LLC purchased a new stake in shares of Eton Pharmaceuticals during the second quarter worth about $362,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Craig Hallum raised their price target on Eton Pharmaceuticals from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, October 28th. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective (up from $11.00) on shares of Eton Pharmaceuticals in a research note on Tuesday, November 26th.

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.