Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Major Shareholder Opaleye Management Inc. Sells 43,692 Shares

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) major shareholder Opaleye Management Inc. sold 43,692 shares of Eton Pharmaceuticals stock in a transaction dated Friday, October 8th. The shares were sold at an average price of $5.00, for a total value of $218,460.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

  • On Monday, October 11th, Opaleye Management Inc. sold 34,101 shares of Eton Pharmaceuticals stock. The stock was sold at an average price of $5.01, for a total value of $170,846.01.
  • On Friday, August 6th, Opaleye Management Inc. sold 345,000 shares of Eton Pharmaceuticals stock. The shares were sold at an average price of $5.84, for a total transaction of $2,014,800.00.
  • On Wednesday, August 4th, Opaleye Management Inc. sold 104,000 shares of Eton Pharmaceuticals stock. The shares were sold at an average price of $5.75, for a total value of $598,000.00.

Shares of ETON stock opened at $5.43 on Thursday. The company’s fifty day simple moving average is $4.95 and its 200-day simple moving average is $6.23. Eton Pharmaceuticals, Inc. has a 52 week low of $4.03 and a 52 week high of $10.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 9.36 and a quick ratio of 8.96.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings results on Sunday, August 15th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.04. The firm had revenue of $3.07 million for the quarter, compared to analysts’ expectations of $3.83 million. As a group, research analysts forecast that Eton Pharmaceuticals, Inc. will post 0.34 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP increased its position in shares of Eton Pharmaceuticals by 43.3% in the 2nd quarter. GSA Capital Partners LLP now owns 57,397 shares of the company’s stock worth $354,000 after purchasing an additional 17,333 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Eton Pharmaceuticals in the 2nd quarter valued at about $91,000. Blair William & Co. IL acquired a new position in Eton Pharmaceuticals during the 2nd quarter valued at about $271,000. Ergoteles LLC acquired a new position in Eton Pharmaceuticals during the 2nd quarter valued at about $311,000. Finally, Vanguard Group Inc. raised its position in shares of Eton Pharmaceuticals by 21.2% during the 2nd quarter. Vanguard Group Inc. now owns 861,540 shares of the company’s stock worth $5,307,000 after buying an additional 150,681 shares in the last quarter. 27.81% of the stock is owned by institutional investors.

ETON has been the subject of a number of analyst reports. B. Riley reiterated a “buy” rating on shares of Eton Pharmaceuticals in a research note on Monday, August 16th. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Eton Pharmaceuticals in a report on Tuesday, September 7th. Finally, TheStreet cut shares of Eton Pharmaceuticals from a “c-” rating to a “d+” rating in a report on Monday, August 9th.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals, Inc engages in the development, acquisition, and commercialization of prescription drug products. Its products include Biorphen, Alaway Preservative Free, zonisamide oral suspension, topiramate oral suspension, lamotrigine for oral suspension, cysteine injection, and ephedrine ready-to-use injection.

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