Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Short Interest Down 14.4% in March

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the target of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 1,897,395 shares, a decline of 14.4% from the February 26th total of 2,217,404 shares. Currently, 8.2% of the shares of the company are short sold. Based on an average daily trading volume, of 274,076 shares, the short-interest ratio is presently 6.9 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ETON. Divisadero Street Capital Management LP acquired a new position in Eton Pharmaceuticals during the second quarter worth about $7,092,000. Geode Capital Management LLC boosted its stake in shares of Eton Pharmaceuticals by 98.8% in the 2nd quarter. Geode Capital Management LLC now owns 592,865 shares of the company’s stock valued at $8,450,000 after purchasing an additional 294,617 shares in the last quarter. Soleus Capital Management L.P. acquired a new stake in shares of Eton Pharmaceuticals in the 2nd quarter valued at approximately $4,061,000. Millennium Management LLC grew its holdings in shares of Eton Pharmaceuticals by 156.3% during the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock valued at $4,620,000 after purchasing an additional 217,042 shares during the last quarter. Finally, Oberweis Asset Management Inc. bought a new stake in shares of Eton Pharmaceuticals during the 3rd quarter valued at approximately $4,180,000. Institutional investors own 27.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ETON. B. Riley Financial increased their price target on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a report on Friday, March 20th. HC Wainwright upped their target price on Eton Pharmaceuticals from $37.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Zacks Research raised Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Eton Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $39.33.

Eton Pharmaceuticals Stock Performance

Shares of NASDAQ:ETON traded up $2.02 on Tuesday, reaching $24.60. 377,118 shares of the company’s stock were exchanged, compared to its average volume of 314,519. The company has a fifty day moving average of $17.67 and a 200-day moving average of $17.62. Eton Pharmaceuticals has a twelve month low of $11.09 and a twelve month high of $24.90. The company has a market capitalization of $670.95 million, a price-to-earnings ratio of -136.61 and a beta of 1.19. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings results on Thursday, March 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). The business had revenue of $21.28 million during the quarter, compared to analyst estimates of $20.58 million. Eton Pharmaceuticals had a negative net margin of 5.75% and a negative return on equity of 2.60%. On average, research analysts predict that Eton Pharmaceuticals will post -0.14 EPS for the current fiscal year.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing, manufacturing and commercializing generic and proprietary pharmaceutical products for patients with rare and underserved diseases. Headquartered in West Palm Beach, Florida, the company leverages its expertise in hormone therapies and complex molecules to address treatment areas where patient need is high and competition is limited. Since its founding in 2016, Eton has sought to build a diversified portfolio that combines established generic medicines with targeted branded offerings.

The company’s product lineup includes thyroid hormone replacements such as desiccated thyroid and liothyronine, as well as pyrimethamine tablets indicated for toxoplasmosis.