Short Interest in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Expands By 32.6%

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) saw a large 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. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily volume of 219,900 shares, the short-interest ratio is presently 1.2 days.

Insider Activity

In other news, major shareholder Opaleye Management Inc. purchased 11,248 shares of the stock in a transaction on Monday, October 7th. The stock was purchased at an average price of $7.22 per share, for a total transaction of $81,210.56. Following the acquisition, the insider now owns 2,730,000 shares in the company, valued at $19,710,600. This trade represents a 0.41 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 14.89% of the stock is currently owned by corporate insiders.

Institutional Trading of Eton Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in Eton Pharmaceuticals in the third quarter worth $54,000. Jane Street Group LLC purchased a new position in Eton Pharmaceuticals in the third quarter worth about $90,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Eton Pharmaceuticals by 86.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,014 shares of the company’s stock worth $390,000 after purchasing an additional 30,167 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Eton Pharmaceuticals by 63.8% during the 2nd quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock valued at $350,000 after buying an additional 41,469 shares in the last quarter. Finally, Stonepine Capital Management LLC purchased a new position in shares of Eton Pharmaceuticals during the 2nd quarter valued at about $362,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ETON shares. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective (up from $11.00) on shares of Eton Pharmaceuticals in a report on Tuesday, November 26th. Craig Hallum upped their price objective on shares of Eton Pharmaceuticals from $10.00 to $15.00 and gave the company a “buy” rating in a report on Monday, October 28th.

Eton Pharmaceuticals Stock Up 1.6 %

Shares of ETON stock traded up $0.19 during trading on Friday, hitting $12.35. The company had a trading volume of 117,055 shares, compared to its average volume of 107,284. The stock has a market capitalization of $319.12 million, a price-to-earnings ratio of -56.14 and a beta of 1.39. The stock’s 50-day moving average is $9.91 and its two-hundred day moving average is $6.15. Eton Pharmaceuticals has a 52 week low of $3.03 and a 52 week high of $13.98.

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.