Short Interest in Eton Pharmaceuticals Inc (NASDAQ:ETON) Grows By 33.1%

Eton Pharmaceuticals Inc (NASDAQ:ETON) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 750,200 shares, a growth of 33.1% from the June 30th total of 563,500 shares. Based on an average daily trading volume, of 129,700 shares, the days-to-cover ratio is presently 5.8 days. Approximately 5.3% of the company’s stock are sold short.

Several large investors have recently bought and sold shares of the company. First Trust Advisors LP grew its stake in shares of Eton Pharmaceuticals by 38.7% during the 2nd quarter. First Trust Advisors LP now owns 28,080 shares of the company’s stock worth $153,000 after purchasing an additional 7,837 shares during the period. Westside Investment Management Inc. grew its stake in Eton Pharmaceuticals by 71.8% in the 2nd quarter. Westside Investment Management Inc. now owns 82,050 shares of the company’s stock valued at $3,169,000 after acquiring an additional 34,300 shares during the last quarter. Finally, UBS Group AG grew its stake in Eton Pharmaceuticals by 164.0% in the 1st quarter. UBS Group AG now owns 6,731 shares of the company’s stock valued at $28,000 after acquiring an additional 4,181 shares during the last quarter. 28.54% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently weighed in on the stock. B. Riley reduced their price objective on shares of Eton Pharmaceuticals from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Zacks Investment Research upgraded shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, HC Wainwright restated a “buy” rating and set a $18.00 price objective (down previously from $26.00) on shares of Eton Pharmaceuticals in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $10.83.

Shares of NASDAQ:ETON traded up $0.52 on Friday, reaching $6.68. 358,333 shares of the company were exchanged, compared to its average volume of 179,027. The company has a debt-to-equity ratio of 0.43, a quick ratio of 6.64 and a current ratio of 7.48. Eton Pharmaceuticals has a 1-year low of $2.50 and a 1-year high of $7.70. The company has a 50-day moving average of $5.54 and a 200-day moving average of $5.34.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.50) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.28). The firm had revenue of $0.10 million for the quarter, compared to analyst estimates of $1.62 million. Analysts expect that Eton Pharmaceuticals will post -1.3 earnings per share for the current fiscal year.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing and commercializing pharmaceutical products. It primarily focuses on liquid products, including injectable, oral liquid, and ophthalmic products. The company develops EM-100, an ophthalmic product for the treatment of allergic conjunctivitis; ET-202 and ET-203, which are injectable product candidates for use in the hospital setting; ET-103, an oral liquid product candidate for hypothyroidism; ET-101, ET-102, and ET-104, which are oral liquid product candidates for neurological indications; and CT-100, a synthetic corticotropin therapeutic candidate for rheumatoid arthritis.

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