Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Sees Large Drop in Short Interest

Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) was the target of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 235,600 shares, a decline of 18.6% from the February 28th total of 289,400 shares. Based on an average trading volume of 278,300 shares, the short-interest ratio is presently 0.8 days. Approximately 1.1% of the shares of the stock are sold short.

Institutional Trading of Eton Pharmaceuticals

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new position in shares of Eton Pharmaceuticals in the 4th quarter valued at about $86,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Eton Pharmaceuticals in the third quarter worth approximately $54,000. Jefferies Financial Group Inc. acquired a new position in Eton Pharmaceuticals in the fourth quarter valued at approximately $133,000. Raymond James Financial Inc. bought a new position in shares of Eton Pharmaceuticals during the 4th quarter worth approximately $147,000. Finally, Bank of America Corp DE grew 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 worth $148,000 after buying an additional 10,899 shares during the period. 27.86% of the stock is currently owned by institutional investors and hedge funds.

Eton Pharmaceuticals Price Performance

Shares of Eton Pharmaceuticals stock traded down $0.74 during midday trading on Friday, reaching $11.76. The company had a trading volume of 467,787 shares, compared to its average volume of 165,213. The firm has a market cap of $315.27 million, a PE ratio of -53.47 and a beta of 1.34. The stock has a fifty day moving average price of $15.36 and a 200 day moving average price of $12.07. Eton Pharmaceuticals has a fifty-two week low of $3.03 and a fifty-two week high of $18.41.

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Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.02) EPS for the quarter, meeting analysts' consensus estimates of ($0.02). Eton Pharmaceuticals had a negative net margin of 15.81% and a negative return on equity of 36.29%. 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 will post -0.14 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.