Eton Pharmaceuticals (NASDAQ:ETON) Coverage Initiated at Craig Hallum

Craig Hallum began coverage on shares of Eton Pharmaceuticals (NASDAQ:ETON) in a report issued on Monday, Marketbeat reports. The firm issued a buy rating and a $8.00 price target on the stock.

Eton Pharmaceuticals Stock Performance

Shares of NASDAQ:ETON opened at $3.72 on Monday. Eton Pharmaceuticals has a 1 year low of $2.42 and a 1 year high of $5.81. The stock has a market capitalization of $95.57 million, a P/E ratio of -124.00 and a beta of 1.19. The stock has a 50-day simple moving average of $3.74 and a 200-day simple moving average of $4.07.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its earnings results on Thursday, March 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). Eton Pharmaceuticals had a negative return on equity of 6.21% and a negative net margin of 2.96%. The firm had revenue of $7.31 million for the quarter, compared to analysts’ expectations of $7.70 million.

Institutional Trading of Eton Pharmaceuticals

A number of institutional investors have recently modified their holdings of ETON. Acuitas Investments LLC grew its holdings in shares of Eton Pharmaceuticals by 124.7% during the 4th quarter. Acuitas Investments LLC now owns 492,054 shares of the company’s stock worth $2,155,000 after purchasing an additional 273,054 shares during the period. EAM Investors LLC acquired a new position in Eton Pharmaceuticals during the 3rd quarter worth approximately $1,070,000. Opaleye Management Inc. lifted its position in Eton Pharmaceuticals by 4.1% during the 4th quarter. Opaleye Management Inc. now owns 2,529,887 shares of the company’s stock worth $11,081,000 after acquiring an additional 99,617 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Eton Pharmaceuticals during the 3rd quarter worth approximately $403,000. Finally, Essex Investment Management Co. LLC lifted its position in Eton Pharmaceuticals by 64.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 110,016 shares of the company’s stock worth $459,000 after acquiring an additional 43,095 shares in the last quarter. Hedge funds and other institutional investors own 27.86% of the company’s stock.

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.