Connor Clark & Lunn Investment Management Ltd. Acquires 149,864 Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) by 230.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 214,878 shares of the company's stock after purchasing an additional 149,864 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.82% of Eton Pharmaceuticals worth $2,862,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETON. Wasatch Advisors LP bought a new position in shares of Eton Pharmaceuticals during the third quarter worth about $1,431,000. Anchor Capital Advisors LLC bought a new position in Eton Pharmaceuticals during the 4th quarter worth approximately $805,000. Westside Investment Management Inc. lifted its position in shares of Eton Pharmaceuticals by 5.7% in the 3rd quarter. Westside Investment Management Inc. now owns 618,675 shares of the company's stock worth $3,711,000 after purchasing an additional 33,275 shares during the period. Geode Capital Management LLC boosted its stake in shares of Eton Pharmaceuticals by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 272,696 shares of the company's stock valued at $1,637,000 after purchasing an additional 32,365 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Eton Pharmaceuticals in the 4th quarter valued at $373,000. 27.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ETON shares. HC Wainwright reissued a "buy" rating and issued a $33.00 price objective on shares of Eton Pharmaceuticals in a research report on Wednesday. B. Riley reiterated a "buy" rating and issued a $24.00 target price (up from $21.00) on shares of Eton Pharmaceuticals in a report on Wednesday. Finally, Craig Hallum raised their price objective on shares of Eton Pharmaceuticals from $23.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday.

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Eton Pharmaceuticals Price Performance

Shares of ETON stock traded down $0.56 during trading hours on Friday, reaching $14.22. The company had a trading volume of 223,652 shares, compared to its average volume of 159,036. The company has a market cap of $370.45 million, a price-to-earnings ratio of -64.64 and a beta of 1.37. Eton Pharmaceuticals, Inc. has a 12 month low of $3.03 and a 12 month high of $18.41. The business has a fifty day simple moving average of $15.56 and a 200-day simple moving average of $11.47.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.02) earnings per share 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 business had revenue of $11.65 million for the quarter, compared to analysts' expectations of $10.53 million. On average, equities research analysts expect that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current 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.