Cannell Capital LLC Makes New $5.08 Million Investment in Eton Pharmaceuticals, Inc. (NASDAQ:ETON)

Cannell Capital LLC bought a new stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) during the fourth quarter, Holdings Channel reports. The institutional investor bought 381,323 shares of the company’s stock, valued at approximately $5,079,000. Eton Pharmaceuticals comprises 1.0% of Cannell Capital LLC’s holdings, making the stock its 28th largest position.

Several other hedge funds have also made changes to their positions in the business. Baader Bank Aktiengesellschaft acquired a new position in Eton Pharmaceuticals during the fourth quarter worth $373,000. Jane Street Group LLC purchased a new position in Eton Pharmaceuticals in the 3rd quarter valued at about $90,000. Geode Capital Management LLC boosted its position in Eton Pharmaceuticals by 13.5% during the third quarter. Geode Capital Management LLC now owns 272,696 shares of the company’s stock worth $1,637,000 after acquiring an additional 32,365 shares during the last quarter. Anchor Capital Advisors LLC purchased a new stake in shares of Eton Pharmaceuticals in the fourth quarter valued at $805,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Eton Pharmaceuticals during the 4th quarter worth about $226,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of Eton Pharmaceuticals in a research note on Wednesday, March 19th. B. Riley reissued a “buy” rating and set a $24.00 price target (up previously from $21.00) on shares of Eton Pharmaceuticals in a report on Wednesday, March 19th. Finally, Craig Hallum upped their target price on Eton Pharmaceuticals from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th.

Eton Pharmaceuticals Stock Performance

NASDAQ:ETON opened at $11.85 on Tuesday. The stock’s 50 day moving average price is $15.17 and its 200 day moving average price is $12.25. Eton Pharmaceuticals, Inc. has a 52 week low of $3.03 and a 52 week high of $18.41. The company has a market capitalization of $317.79 million, a P/E ratio of -53.86 and a beta of 1.34.

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

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.