Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Short Interest Down 18.0% in February

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 289,400 shares, a decline of 18.0% from the February 13th total of 353,000 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 263,000 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ETON shares. Craig Hallum upped their price target on shares of Eton Pharmaceuticals from $15.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. HC Wainwright raised their price objective on shares of Eton Pharmaceuticals from $17.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, B. Riley began coverage on shares of Eton Pharmaceuticals in a research report on Friday, January 10th. They set a “buy” rating and a $21.00 price target on the stock.

Eton Pharmaceuticals Price Performance

Shares of ETON traded down $0.61 during trading hours on Tuesday, hitting $14.68. The company’s stock had a trading volume of 728,872 shares, compared to its average volume of 158,232. The business has a 50 day simple moving average of $15.40 and a two-hundred day simple moving average of $11.35. The company has a market cap of $382.43 million, a price-to-earnings ratio of -66.73 and a beta of 1.37. Eton Pharmaceuticals has a 52-week low of $3.03 and a 52-week high of $18.41.

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

Hedge Funds Weigh In On Eton Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Eton Pharmaceuticals in the third quarter valued at $54,000. Tower Research Capital LLC TRC bought a new stake in shares of Eton Pharmaceuticals in the fourth quarter valued at about $86,000. Jane Street Group LLC bought a new position in Eton Pharmaceuticals in the third quarter worth about $90,000. Jefferies Financial Group Inc. bought a new position in Eton Pharmaceuticals in the fourth quarter worth about $133,000. Finally, Raymond James Financial Inc. bought a new position in Eton Pharmaceuticals in the fourth quarter worth about $147,000. Hedge funds and other 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.