Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Short Interest Update

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 343,900 shares, an increase of 46.0% from the March 15th total of 235,600 shares. Based on an average daily volume of 287,400 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.6% of the company’s stock are short sold.

Analyst Ratings Changes

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

Eton Pharmaceuticals Trading Up 1.8 %

ETON traded up $0.26 during trading on Friday, hitting $14.34. 257,210 shares of the company’s stock traded hands, compared to its average volume of 172,779. Eton Pharmaceuticals has a 12-month low of $3.04 and a 12-month high of $18.41. The company’s 50 day simple moving average is $14.25 and its two-hundred day simple moving average is $12.61. The stock has a market capitalization of $384.57 million, a price-to-earnings ratio of -65.18 and a beta of 1.34.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.02) EPS for the quarter, meeting 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 analysts’ expectations of $10.53 million. On average, equities analysts expect that Eton Pharmaceuticals will post -0.14 EPS for the current year.

Institutional Trading of Eton Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC purchased a new position in shares of Eton Pharmaceuticals in the 4th quarter worth $86,000. Jefferies Financial Group Inc. bought a new position in Eton Pharmaceuticals in the fourth quarter valued at about $133,000. Point72 Asia Singapore Pte. Ltd. boosted its position in Eton Pharmaceuticals by 18.3% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,561 shares of the company’s stock worth $141,000 after purchasing an additional 1,634 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Eton Pharmaceuticals during the 4th quarter valued at about $147,000. Finally, Bank of America Corp DE increased its position in shares of Eton Pharmaceuticals by 5,422.4% during the 4th quarter. Bank of America Corp DE now owns 11,100 shares of the company’s stock valued at $148,000 after purchasing an additional 10,899 shares during the last quarter. 27.86% of the stock is currently owned by institutional investors.

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.